INDUSTRY.co.id - Jakarta, PT Chandra Asri Pacific Tbk (Chandra Asri Group) announced a shareholding rebalancing transaction conducted by one of the Company's long-term shareholders, SCG Chemicals Public Company Limited (SCGC).
This step is part of the SCGC capital allocation strategy which includes strengthening the capital structure and reallocation of funds to support the development of the company's core business and various strategic growth initiatives. After the transaction, SCGC still owns about 15.71% of Chandra Asri Group's shares and remains as one of the Company's long-term strategic shareholders.
The transaction also increased Chandra Asri Group's share of public shares (free float) to around 25.7%. This increase in free float is expected to expand the liquidity of the Company's stock trading while increasing access for domestic and international investors.
In addition to supporting the fulfillment of the provisions of capital market regulators, the increase in public shares is also considered capable of strengthening stock liquidity, increasing the Company's attractiveness in the eyes of investors, and supporting the creation of long-term value for shareholders.
President Director & CEO Chandra Asri Group, Erwin Ciputra said, "SCGC is a long-term shareholder and strategic partner that has made an important contribution to Chandra Asri Group's growth journey. This transaction reflects the priority of SCGC capital allocation and does not change the Company's strategic direction, governance, or commitment in creating sustainable growth. We remain focused on carrying out the Company's transformation and rejuvenation agenda as we strengthen our portfolio of energy, chemical and infrastructure businesses in Southeast Asia. ”
The Company confirmed that the transaction did not cause material changes to the control structure, corporate governance, management structure, or operational activities of Chandra Asri Group.
Post-transaction, the Company's three main strategic shareholders, namely PT Barito Pacific Tbk, SCGC, and Thaioil Public Company Limited, collectively own approximately 74.3% of Chandra Asri Group shares. This condition reflects the continued support and confidence of major shareholders in the Company's long-term growth prospects.
In the future, Chandra Asri Group states that it will continue to develop various strategic growth opportunities through an integrated business portfolio. The Company also remains focused on strengthening operational excellence, capital management discipline, and the implementation of good corporate governance in order to create sustainable value for all stakeholders.
