In May 2024, PT Techno9 Indonesia Tbk (NINE) faced significant challenges due to the absence of a chief executive officer, leading to operational difficulties and a sharp decline in its stock price. A financial advisor, Noprian Fadli, intervened by acquiring a 12% stake and assuming a leadership role to stabilize the company and attract new investors.

By October 31, 2024, during a General Meeting of Shareholders, Noprian Fadli was appointed as President Commissioner. At that time, NINE’s stock had plummeted from IDR 75 to IDR 5, leaving retail investors unable to sell their shares.

Fadli initiated a strategic plan to revitalize the company, including persuading Poh Group, a Singapore-based conglomerate with interests in logistics, information technology, mining, and energy, to invest in NINE. Despite the company’s legal and financial issues, Poh Group was convinced to proceed with the acquisition after thorough due diligence.

The synergy between Poh Group and NINE was deemed promising, particularly in the information technology sector. Poh Group also planned to expand NINE’s operations into the coal industry, aligning with their existing ventures in Australia, Cambodia, and Mongolia.

Intensive negotiations with controlling shareholders culminated in an Extraordinary General Meeting of Shareholders, which successfully increased NINE’s stock price from IDR 10 to IDR 204. This recovery allowed many investors to exit their positions profitably, marking a significant achievement in the company’s turnaround.

However, the rapid stock price surge prompted the Indonesia Stock Exchange to suspend NINE’s trading for six weeks, necessitating a comprehensive disclosure of Poh Group’s background and the acquisition process.

This case exemplifies effective corporate restructuring and strategic investor engagement, transforming a distressed public company into a revitalized entity with renewed investor confidence.

source : stowckwatch.id