JAKARTA - PT Techno9 Indonesia Tbk (NINE) reveals its plan to acquire Poh Resources Pte Ltd, a Singapore-based company. This acquisition will position NINE in the mining and mining contractor sector.

“Before the acquisition is completed, the company must carry out a two-stage rights issue. The first stage targets IDR 80 billion, while the second stage aims to raise USD 200 million, or approximately IDR 3.2 trillion,” NINE’s management stated in a disclosure to the Indonesia Stock Exchange (IDX) on Monday (3/2).

The acquisition process will be gradual, with the first to fourth stages executed after the second rights issue, and no later than the Mandatory Tender Offer (MTO).

“PMHMETD I (First Rights Issue) is planned for the end of Q1-2025 or early Q2-2025. Following that, the company will hold a General Meeting of Shareholders (RUPS) for the second rights issue scheduled for Q4-2025,” NINE’s management added.

The acquisition involves 70% of NINE's shares at a price of IDR 19 per share, equivalent to a transaction worth IDR 28 billion. These shares are held by the main owners, including Noprian (12%), Heddy Kandou (51.95%), and other minority shareholders.

Proceeds from the first rights issue will be used to pay transaction consultants, working capital, and to repay a bridging loan of USD 455,000 to Advance Opportunities Fund. Meanwhile, funds from the second rights issue will be allocated for the asset inbreng (non-cash capital investment) of Poh Resources Pte Ltd. (DK/ZH)