Nusantara Infrastructure Plans to Go Private to Strengthen Business Fundamentals and Performance
10 November 2023
Author: Administrator
This corporate action aims to strengthen the fundamentals and maintain the business and financial stability of the group in its various sectors. In addition, development plans in the toll road sector subsidiaries require large funding (capital intensive). The characteristics of the business need a long period to generate a return on investment and, as a result, can add a more extended period to provide dividends to shareholders.
Indah D.P. Pertiwi, Head of Corporate Communication & CSR of PT Nusantara Infrastructure Tbk, revealed, "Following the Information Disclosure on 10 November 2023, the company plans to go private, but this plan needs to be approved first by the shareholders through the EGMS which will be held soon."
Related to this corporate action plan, the Company's Management will seek approval from the Independent Shareholders first at the Extraordinary General Meeting of Shareholders (EGMS), held on 19 December 2023.
Indah added, "Following the stipulated regulations, after obtaining approval from independent shareholders at the upcoming EGM, information such as the buy-back price and mechanism will be submitted later. So, for now, this information cannot be disclosed."
For additional information, the company recently signed a share acquisition agreement with WIPL and MPTI to strengthen its capital structure, PT Margautama Nusantara (MUN), a subsidiary of Nusantara Infrastructure in the toll sector. The capital injection plan will pay off the debt to purchase the Mohamed Bin Zayed (MBZ) Elevated Road. After obtaining approval from the shareholders, which will also be carried out at the EGMS on 19 December 2023, the composition of Nusantara Infrastructure's share ownership will be 43.39%, WIPL by 33.00%, MPTI by 10.29%, and the remaining minority shareholders.
