JAKARTA. PT Bentoel Internasional Investama Tbk (RMBA), one of the biggest cigarette manufacturers in Indonesia, has officially left (delisting) Indonesia Stock Exchange (IDX) starting today (16/1).

According to IDNFinancials data, this cigarette manufacturer based in East Java was publicly listed in 1990. In the initial public offering (IPO), the company managed to raise IDR 4.06 billion after offering 1.2 million shares to the public.

IDX said that this delisting process has complied with the requirements and procedure. “The stock exchange agrees upon this delisting process from trading sessions in Indonesia Stock Exchange, taking effect starting today,” Rina Hadriyani, P.H., Head of Company Appraisal Division I of IDX.

For the record, 85% of RMBA was acquired by British American Tobacco Plc. (BAT) in 2009. The acquisition value agreed upon at that time reached USD 494 million or equal to IDR 873 per share.

BAT then held the tender offer to acquire all shares of RMBA. At its final sessions, RMBA’s shares were offered for IDR 1,000 each in 2021, allowing BAT’s portion to rise to 99.96%.

As of September 30, 2023, RMBA’s total assets were recorded at IDR 9.43 trillion. Meanwhile, its total equity was recorded at IDR 2.29 trillion. (KR/ZH)