PANI reduces rights issue share portion, priced at a premium
JAKARTA – PT Pantai Indah Kapuk Dua Tbk (PANI), a holding company in the real estate sector, has reduced the number of new shares to be issued in its third Capital Increase with Pre-emptive Rights (PMHMETD), also known as a rights issue.
Earlier in October 2025, PANI’s management announced plans to issue up to 1.21 billion new shares in this third rights issue.
However, in a statement released on Monday (13 October), the company confirmed it will now offer only 1.11 billion new shares, representing 6.19% of its total outstanding shares.
PANI has set the offering price for the new shares at IDR15,000 per share, which is 10.3% higher than the closing price of IDR13,600 per share on Monday (13 October).
At this price, PANI could raise up to IDR16.73 trillion in fresh capital if all new shares are taken up by investors.
PT Multi Artha Pratama (MAP), PANI’s controlling shareholder, has committed to fully subscribe to the portion of new shares allocated to it.
Each holder of 119,169 PANI shares will receive 7,864 rights (HMETD), with each right entitling the holder to purchase one new share.
The recording date to qualify for PANI’s rights is set for 27 November 2025. Distribution of the rights will take place on 28 November 2025, with listing on the exchange scheduled for 1 December 2025.
PANI’s management has stated that approximately 96% of the proceeds from this third rights issue will be allocated to increasing its stake in PT Bangun Kosambi Sukses Tbk (CBDK). The remainder will be used for capital injections into three of PANI’s subsidiaries. (KR/LM)
