BUVA eyes IDR 240 billion from rights issue, what's the allocation?
JAKARTA – PT Bukit Uluwatu Villa Tbk (BUVA) is targeting to raise fresh funds totalling IDR 240 billion from a planned rights issue set to be carried out later this year.
The funds will be allocated as capital expenditure for land acquisition and the purchase of a 55% stake in PT Bukit Permai Properti (BPP).
In an information disclosure quoted on Thursday (7/8), BUVA President Director Satrio stated that the company is currently reviewing the exercise price, the number of shares to be issued, and the rights issue ratio.
According to him, BUVA’s controlling and majority shareholders intend to exercise their rights in excess of their entitlement should other shareholders opt not to participate.
As of June 2025, BUVA had 20.59 billion shares outstanding, with the following ownership structure:
- PT Mitra Sawit Baru – 9.19%
- PT Nusantara Utama Investama – 61.07%
- Public – 29.74%
The ultimate beneficial owner of PT Nusantara Utama Investama is Happy Hapsoro.
Satrio explained that the proceeds from the corporate action will be used to develop Alila Villas Uluwatu through the acquisition of 55% of BPP, which manages 19.3 hectares of land in Bali.
“This acquisition is also expected to deliver added commercial value in several areas, including enhanced operational synergy and strengthened positioning that could support long-term revenue potential,” he said.
More specifically, 67% of the rights issue proceeds will be allocated to the acquisition of BPP in the fourth quarter of 2025, while the remaining 33% will be used to acquire additional land around Alila Villas Uluwatu in the fourth quarter of 2026. (LK/ZH)
