BDI's Jumbo Tender Offer for Tower Bersama Shares

Summary

Bersama Digital Infrastructure Asia Pte. Ltd. (BDI), a Saratoga Group affiliated company, will conduct a voluntary tender offer for PT Tower Bersama Infrastructure Tbk (TBIG) shares at Rp 3,200 per share. This was done after BDI bought a 62.38 percent stake in TBIG in April. BDI has allocated Rp 7.5 trillion for the plan.

Based on KSEI's announcement on May 11, BDI will purchase a maximum of 2.48 billion shares from public shareholders in this voluntary tender offer, equivalent to 10.97 percent of TBIG’s paid-in TBIG. The voluntary tender offer period will start on June 22 at 09.00 a.m. Jakarta time and close on July 22 at 3.15 p.m.

Previously, BDI bought 14.13 billion shares or a 62.38 percent stake in TBIG on April 22, 25, and 26 at Rp 3,200 per share. BDI, formerly Provident Consolidated Holdings Pte. Ltd., took over the shares from several parties.

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