JAKARTA. Bersama Digital Infrastructure Asia Pte. Ltd. (BDIA), the controlling shareholder of PT Tower Bersama Infrastructure Tbk (TBIG), will initiate a tender offer.

TBIG’s shares offered by BDIA clock up to 1 billion shares, equal to 4.42% of issued and paid-up capital. The offering price was set to IDR 2,300 per share, thus bringing the total tender offer to IDR 2.3 trillion.

In its official statement, BDIA mentioned that this corporate action plan is a part of its business strategy as an investment company. Therefore, BDIA aims to raise its stakes in TBIG by another 4.42%.

“This tender offer is an opportunity to realise the gain for its investment in target company with a higher price compared to historical price,” the management of BDIA explained.

For the record, the tender offer price set by BDIA is categorised as premium level, because the offering price is 7.08% higher than the average peak within the past 12 months of transaction.

TBIG’s tender offer will take place from December 14, 2023, until January 12, 2024. The payment is due January 24, 2024. (KR/ZH)