BUVA acquires SMRA’s Bali subsidiary post IDR 604 billion rights issue
JAKARTA – PT Bukit Uluwatu Villa Tbk (BUVA), the hospitality company controlled by Happy Hapsoro, is set to acquire a majority stake in PT Bukit Permai Properti (BPP).
BUVA President Director Satrio stated that Bukit Permai Properti is jointly owned by PT Summarecon Bali Indah and PT Bali Indah Development, and that BUVA will acquire a 55% stake in the company.
“With the acquisition of a majority stake in BPP, the Company will become the controlling shareholder of BPP,” Satrio said in a disclosure to the Indonesia Stock Exchange (IDX).
He added that the acquisition will be valued at IDR 175 billion, although the valuation process is still underway.
“The completion of BPP’s acquisition, based on agreements between the sellers and buyers, is expected to be finalised no later than 31 December 2025,” Satrio noted.
As informed prior, in September 2025, BUVA had announced its plan to raise capital through a rights issue targeting IDR 603.9 billion.
The distribution of pre-emptive rights (HMETD) will take place on 30 October 2025, with the listing of new shares on the exchange scheduled for 31 October 2025.
PT Nusantara Utama Investama (NUI), BUVA’s controlling shareholder, has committed to fully exercising its rights in the rights issue. Meanwhile, Happy Hapsoro has opted to transfer all his rights to NUI.
NUI will also act as standby buyer in the rights issue, while existing shareholders who do not participate will see their holdings diluted by up to 16.36%. (KR/ZH)
