JAKARTA - PT Palma Serasih Tbk (PSGO) is expanding its palm plantation in East Kalimantan by acquiring 100% of PT Sabhantara Rawi Sentosa (SRS) from PT Dhanistha Surya Nusantara (DSN) and PT Surya Nusantara Sawitindo (SNS) last week (12/12).

Since last Thursday, PSGO has showed IDR 2 climb from IDR 192 to IDR 194 this morning (16/12).

In the information disclosure, Astrida Niovita Bachtiar, Director of PSGO, said that the purchasing price will be set referring to the agreed valuation of SRS minus SRS’s obligations.

“The transaction value will not reach 20% of the company’s equity,” Bachtiar confirmed, as quoted Monday (16/12).

As of September 2024, total equity was recorded at IDR 2.33 trillion. Using Q3 2024 Financial Statement as reference, the SRS valuation will not be over IDR 467.4 billion, or 20% of PSGO’s total equity.

The transaction was carried out alongside PT Anugerah Energitama (AE), PSGO’s subsidiary that manages operation in East Kutai, East Kalimantan.

In this transaction, PSGO acquires 620,718 shares of DSN and one share of SNS. For the record, these three parties are not affiliated. (LK/ZH)