JAKARTA - Hengtong Optic Electric International Co Ltd (HOEI), controlling shareholder of PT Voksel Electric Tbk (VOKS), will initiate the tender offer of a maximum 1.11 billion shares for IDR 226 each. The transaction value of this corporate action is projected to reach IDR 253.10 billion.

In the information disclosure quoted Monday (5/2), Masrana, Corporate Secretary of VOKS, mentioned that the number of shares offered is equal to 26.95% of current total issued and paid-up capital of the company. This corporate action will last for a month, starting from today (5/2) until March 6.

Until December 2023, VOKS’s issued and paid-up capital was recorded worth IDR 415.56 billion, with shareholders consisting of HOEI of 42.97%, DBS Vickers (Hong Kong) Limited of 30.08%, SWCC Corporation of 10.02%, and the public of 16.93%. Its authorised capital was IDR 1 trillion, while the stock in portfolio was worth IDR 584.43 billion.

On July 28, 2023, HOEI officially controlled VOKS following the acquisition of 1.78 billion shares of IDR 226 each, equal to IDR 403.56 billion.

HOEI and VOKS are indirectly affiliated, in which HOEI controls 1.25 billion shares of VOKS through DBS Vickers (Hong Kong) Limited, even prior to the acquisition on December 23, 2023. However, this new controller is not directly affiliated, as well as indirectly affiliated with David Lius, the previous controller of VOKS. (LK/ZH)