Here’s the Super Ecosystem from Grab, Emtek, and Salim Group

By Editorial Team 16/04/2021
M&A
Summary

Having just announced the IPO plan, Grab immediately had its swift move on expansion. Recently, the Singapore-based ride-hailing company invested in the media and technology conglomerate PT Elang Mahkota Teknologi Tbk (Emtek). A source from The Straits Times said that Grab bought about a four percent stake in Emtek valued more than Rp 4 trillion.

Grab reportedly acquired Emtek's shares through recent private placement sales. On April 5, Emtek announced that it had issued 4.76 billion new shares at Rp 1,954 per share. The EMTK stock-coded company raised Rp 9.3 trillion through private placement.

In a disclosure to the regulator, Naver Corporation Holdings Inc has become one of Emtek's new investors through the corporate action. Apart from the South Korean-based company, several investors also bought Emtek’s shares, including H Holdings, PT Asuransi Allianz Life Indonesia, PT Ashmore Asset Management Indonesia Tbk, PT Manulife Aset Manajemen Indonesia, PT Batavia Prosperindo Aset Manajemen, PT Elbara Perkasa, and PT Syailendra Capital.

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