JAKARTA - PT Bumi Serpong Damai Tbk (BSDE) made a tender offer for 382.01 million shares or the equivalent of 8.01% of the paid up and issued capital of PT Suryamas Dutamakmur Tbk (SMDM) 4.77 billion. With an offering price of IDR 531 per share, the transaction value reaches IDR 202.85 billion.

In the short prospectus quoted on Tuesday (17/12), the offer price in the tender offer for SMDM shares was IDR 531, 181.77% higher than IDR 188.45 per share, the highest average trading price in the 90 trading days before this plan was announced to the public on August 1, 2024. This plan will last for the next month starting (17/12) until 15 January 2025.

It is known that BSDE controls 91.99% of SMDM shares through a transaction on July 31, 2024 worth IDR 2.33 trillion. The number of SDSM shares purchased by BSDE was 4.39 billion at a price of IDR 318 per share from Top Global Limited (TGL).

By acquiring SMDM shares, BSDE has additional ready-to-sell land reserves of 29.86 hectares (Ha) and is currently developing 19.97 Ha with an acquired land area of ​​1,003.60 Ha in West Java. (LK/LM)