JAKARTA - PT Techno9 Indonesia Tbk (NINE), a technology company that was listed on the Indonesia Stock Exchange (IDX) on December 5, 2022, will be acquired by Poh Group Pte Ltd.

The number of NINE shares to be acquired by Poh Group is 70%. All of these shares will be taken over from Heddy Kandou and Noprian Fadli as the majority shareholders of NINE.

Currently, the acquisition is still in the negotiation stage of the final acquisition value. After the transaction is completed, Poh Group will become the controlling shareholder of NINE. “The buyer will become the new controller of NINE,” said NINE's management in a disclosure submitted to the Indonesia Stock Exchange (IDX).

In its official statement, the acquisition of NINE is referred to as Poh Group's business development and expansion strategy.

After the acquisition is completed, Poh Group will hold a mandatory tender offer in accordance with the rules of the Financial Services Authority (OJK). “The implementation of the Acquisition Plan and mandatory tender offer will be carried out with due observance of the applicable regulations,” added NINE Management.

According to idfinancials.com data, Poh Group is a company engaged in natural resources and engineering. Founded in 2010, Poh Group now has 13 business entities spread across Australia, Asia, and Canada.

As of 10:27 am today, NINE's share price moved up 10% or 10 points to IDR 99 per share. The company's market capitalization is currently recorded at IDR 213.54 billion. (KR/LM)