JAKARTA – PT Bangun Kosambi Sukses Tbk (CBDK) has acquired PT Industri Pameran Nusantara (IPN) by taking over 135.04 series B shares worth IDR 2.3 trillion through an agreement signed on January 16, 2025.

According to the disclosure of information quoted today (21/1), with this capital injection and new share acquisition, CBDK will control 99.99% of IPN shares.

“The funds obtained from the issuance of new shares will be used by IPN as additional capital to finance the construction of buildings for meetings, incentives, conferences, and exhibitions (MICE),” said CBDK’s management.

As a company engaged in venue rental and MICE organization, IPN is projected to add value to MICE projects in the CBD PIK 2 area.

In line with CBDK’s IPO prospectus, the IDR 2.3 trillion raised by the company from this corporate action has now been transferred to IPN.

It should be noted that IPN’s property, which is still under construction as of September 30, 2024, and will also be acquired by CBDK, is located on Jl. Gatot Subroto, Desa Salembaran Jaya, Kosambi, Tangerang, Banten Province.

According to the report by KJPP Suwendho Rinaldy and Partners as of September 30, 2024, the property is valued at IDR 423.16 billion.

As of June 2024, CBDK’s assets amounted to IDR 18.16 trillion, with equity of IDR 8.14 trillion. The transaction value, which exceeds 20% of the company’s equity, makes this a material transaction.

This transaction is also classified as an affiliated transaction, as IPN and CBDK are both under the same controlling shareholder, PT Pantai Indah Kapuk Dua Tbk (PANI), the developer of PIK 2. (ZH)