JAKARTA - Two controlling shareholders of PT Techno9 Indonesia Tbk (NINE), namely Noprian Fadly and Heddy Kandou, again released most of their shares on 26 March 2025, as part of the ongoing acquisition process.

Nuzwan Gufron, President Director of NINE, explained that Noprian, who also serves as President Commissioner, released 105.26 million shares worth IDR2 billion, while Heddy sold 52.63 million shares worth IDR1 billion. Interestingly, all of these transactions were carried out at an acquisition price of Rp19 per share, far below the current market price.

After the transaction, Noprian's ownership shrank to 67.3 million shares or equivalent to 3.12% from 172.58 million shares (8%). Meanwhile, Heddy now controls 962.67 million shares (44.63%), from 1.02 billion shares (47.07%).

‘The purpose of this two-controller transaction is as part of the acquisition stage stipulated in the CSPA with direct share ownership,’ he said, in his official statement, quoted on Monday (7/4).

For the record, on 24 January 2025, Nuzwan revealed that NINE would be acquired by Poh Group, a company engaged in the natural resources and engineering sectors, with an acquisition value of IDR28 billion or 70% of NINE shares at IDR19 per share. The shares to be acquired include those of Noprian (12%), Heddy (51.95%), and other minority shareholders.

As such, the selling of shares by the two controlling shareholders is an integral part of the acquisition phase by Poh Group.

In the midst of this process, NINE's share price in the market actually showed significant movement. At the close of trading on Thursday (27/4), NINE shares were recorded at IDR195, well above the acquisition price. However, in a week, the stock actually corrected 40.91%, and 8.88% in the past month. (EF/LM)