JAKARTA. Several renowned global investors, starting from Alpha JWC to Horizon Ventures, will reportedly make investments in three subsidiaries of PT Indika Energy Tbk (INDY).

On top of those two big guns, other investors, including HH-CTBC Partnership and Brama One Ventures Limited, will also participate in funding of those subsidiaries. For the record, the subsidiaries in question are PT Solusi Mobilitas Indonesia (SMI), PT Indika Energy Infrastructure (IEI), and PT Ilectra Motor Group (IMG).

Funding will be given in the form of loan facility convertiblo IMG. The total value of facility granted by said investors clocks up to USD 45 million.

“The completion of transaction plan still relies on the fulfilment of conditions by involved parties as set forth in agreements,” Adi Pramono, Corporate Secretary of INDY, added in the official statement.

Pramono mentioned that this convertible loan facility is in line with Indika Group’s diversification strategy. “Particularly in regard to the expansion of electric vehicle (EV) business sector and the establishment of comprehensive EV ecosystem in Indonesia,” he explained. (KR/ZH)