JAKARTA, IDNFinancials.com – PT Morris Capital Indonesia (MCI) is set to launch a mandatory tender offer for shares of PT Multi Makmur Lemindo Tbk (PIPA) following the completion of the acquisition of shares from the company’s controlling shareholders.
According to a disclosure on Monday (May 19), Noprian Fadli, Director of MCI, stated that negotiations are progressing between MCI and PIPA’s controlling shareholders — Junaedi, Susyanalief, Nanang Saputra, and Hendrik Saputra — after the commencement of due diligence covering financial, legal, and operational aspects.
He noted that the due diligence process is expected to take approximately two months. Upon its completion, MCI and PIPA will finalize the share acquisition from the controlling shareholders. “Following the completion of the acquisition, MCI will assume control as the new majority shareholder of PIPA and will initiate a mandatory tender offer in accordance with prevailing regulations,” he said.
As of April 2025, PIPA’s total outstanding shares stand at 3.42 billion. The ownership breakdown is as follows: Junaedi holds 29.2%, Susyanalief 20.44%, Hendrik Saputra 7.3%, Nanang Saputra 7.3%, and public shareholders 35.78%.
On the market front, PIPA shares rose 9.46% to IDR 81 as of 2:55 PM local time on Monday (May 19). The stock has gained 17.39% over the past week and soared 189.29% over the past month, reflecting strong investor interest amid the ongoing acquisition news.
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