JAKARTA. General Atlantic (GA), through GA Robusta F&B Company Pte Ltd, will divest its stock portion in PT MAP Boga Adiperkasa Tbk (MAPB).

Based on the information disclosure in Indonesia Stock Exchange (IDX) today (24/1), the management of MAPB, mentioned that the divestment of GA in the company will be conducted in a tender. There will be a private placement, aimed for certain investors, both foreign and domestic ones.

“Regarding the private placement plan mentioned above, GA has requested aid from the company within the scope of GA Group,” the management of MAPB confirmed.

The help provided by MAPB to GA will be in the form of assistance in the private placement. It is also expected to introduce and raise the company’s popularity among investors, as well as diversifying the base of investors of the company.

According to IDNFinancials, as of now, 79.1% of MAPB’s shares are under the control of PT Mitra Adiperkasa Tbk (MAPI). GA Robusta F&B Company then claims 19.4% of shares, followed by public investors of 1.5%. (KR/ZH)