Shares of PT Techno9 Indonesia Tbk (IDX: NINE) continued to attract investor attention as they soared by 9.30% in the first trading session on January 2, 2025, hitting the upper limit auto reject (ARA) at IDR 141. The rally was accompanied by significant buy orders, with over 479,571 lots queued at the ceiling price. Listed on the Indonesia Stock Exchange’s acceleration board, NINE shares have experienced a staggering rally—surging 1,466.67% over the past three months from a mere IDR 9 on October 2, 2024. The meteoric rise follows an official announcement regarding a planned majority acquisition by Singapore-based Poh Group Pte Ltd.
Acquisition Plan by Poh Group
Poh Group Pte Ltd has expressed its intention to acquire a 70% stake in Techno9 Indonesia, currently held by majority shareholders Heddy Kandau and Noprian Fadli, along with other minority shareholders. “Upon completion of the transaction, we will become the new controlling shareholder of PT Techno9 Indonesia Tbk (NINE),” said Poh Kay Ping, CEO of Poh Group, in an official statement. This move is part of Poh Group’s strategic expansion into the resource and engineering sectors. Founded in 2010, the group has grown rapidly with a core focus on engineering procurement, construction, and natural resource exploration and development across Asia.
Techno9 Indonesia’s Market Outlook
Techno9 Indonesia (NINE) is an integrated IT solutions provider offering services such as IT asset management, data center operations, network management, IT infrastructure, structured cabling, and technology-based surveillance systems. The planned acquisition not only provides an entry point for Poh Group into the Indonesian tech market but also strengthens Techno9’s competitive positioning in the region’s rapidly evolving IT sector.
Mandatory Tender Offer in the Pipeline
Following the completion of the acquisition, Poh Group will launch a mandatory tender offer to public shareholders, in accordance with regulatory requirements. As of now, the final valuation and timeline of the acquisition remain under negotiation. With strong business prospects and momentum, NINE shares remain a focus for investors. The acquisition by Poh Group is expected to generate substantial positive impact for both the company and its shareholders. For those seeking growth opportunities in the tech sector, NINE may present a compelling investment case.