Sinergi Inti Andalan Secures Regulatory Approval for Massive $205 Million Rights Issue
Four Takeaways
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JAKARTA, Investortrust.id — PT Sinergi Inti Andalan Prima Tbk (INET), a growing force in Indonesia’s digital infrastructure landscape, has received the green light from the Financial Services Authority (OJK) to proceed with a primary rights issue aimed at raising up to 3.2 trillion rupiah (approximately $205 million).
The corporate action, known as Sinergy Networks, involves the issuance of 12.8 billion new shares priced at 250 rupiah each. To sweeten the deal for participating investors, the company is attaching Series II Warrants, which could potentially inject an additional 691.2 billion rupiah into the firm's coffers upon full execution.
Strategic Pivot to Bali and Lombok
The capital raise is central to INET’s aggressive expansion into Indonesia’s high-growth tourism and digital hubs. According to the company's prospectus, approximately 2.8 trillion rupiah will be channeled through its subsidiary, PT Garuda Prima Internetindo (GPI), to deploy high-speed Fiber-to-the-Home (FTTH) networks.
Utilizing next-generation Wi-Fi 7 technology, the project aims to capture a market of 2 million subscribers across Bali and Lombok. This infrastructure play positions INET to capitalize on the increasing demand for high-bandwidth connectivity driven by digital nomads and the recovery of the regional hospitality sector.
Beyond the FTTH rollout, the company has earmarked 215.38 billion rupiah to settle costs for the Indefeasible Right of Use (IRU) of subsea cable networks, an essential component for ensuring stable international data transit. The remaining proceeds will be utilized for general working capital.
Commitment from Majority Shareholders
PT Abadi Kreasi Unggul Nusantara (AKUN), the controlling shareholder, has signaled strong confidence in the expansion by acting as the standby buyer. AKUN has committed to absorbing up to 5.65 billion unsubscribed shares from the public portion, ensuring the success of the fundraising.
Current shareholders who choose not to exercise their rights face a maximum ownership dilution of 57.14%. The trading period for the rights is scheduled to run from January 8 to January 22, 2026.
Investment Calendar: INET Rights Issue Schedule
Investors should note the following critical dates for PT Sinergi Inti Andalan Prima Tbk’s (INET) capital raise. The "Cum Date" represents the final day an investor must hold the stock to be eligible for the rights.
| Event | Date |
| Cum Right (Regular & Negotiation Market) | Friday, January 2, 2026 |
| Ex Right (Regular & Negotiation Market) | Monday, January 5, 2026 |
| Cum Right (Cash Market) | Tuesday, January 6, 2026 |
| Recording Date for Rights Eligibility | Tuesday, January 6, 2026 |
| Ex Right (Cash Market) | Wednesday, January 7, 2026 |
| Rights (HMETD) Distribution | Wednesday, January 7, 2026 |
| Listing on Indonesia Stock Exchange (BEI) | Thursday, January 8, 2026 |
| Rights Trading & Exercise Period Begins | Thursday, January 8, 2026 |
| Rights Trading & Exercise Period Ends | Thursday, January 22, 2026 |
| Allotment of Additional Share Orders | Monday, January 26, 2026 |
| Refund for Unfilled Additional Orders | Wednesday, January 28, 2026 |