JAKARTA - PT Master Print Tbk (PTMR) is said to acquire 99% of PT Global Putra Kusuma (GKP), a distributor of consumables and machine for Small and Medium Enterprises (SME). With this takeover, the company is projected to expand its market share to SME and B2C segment.

Quoted from the prospectus this Wednesday (2/10), this soon-to-be public company is said to acquire 247,500 of GPK’s shares, consisting of 197,500 shares owned by PT KUS Global Investama (KGI), 47,500 shares of PT Kencana Usaha Sentosa (KUS), and 2,500 shares of Cindy Kusuma. The transaction value reaches IDR 25.09 billion.

In Q1 2024, GPK’s performance showed an increase from the same period last year. Sales were reported reaching at IDR 5.50 billion, up from IDR 3.36 billion in Q1 2023. Then, gross profit grew from IDR 1.51 billion to IDR 2.78 billion, with net profit doubling to IDR 1.05 billion from IDR 477.65 million.

The initial public offering (IPO) will issue 435 million shares with the price set to IDR 128 per share. The public offering will take place this week, from October 2-4, 2024, with target proceeds of IDR 55.68 billion. The remaining funds, after this acquisition, will be allocated as working capital. (LK/ZH)