Indonesian Companies Turn to Private Placements in Late 2025

Capital Strengthening Efforts

Several Indonesian listed companies are actively planning private placements in the final quarter of 2025. This strategic move aims to bolster their capital structure and enhance market liquidity. Two notable companies leading this trend are PT Elang Mahkota Teknologi Tbk (EMTK) and PT SLJ Global Tbk (SULI).

EMTK's Capital Raising Plan

EMTK is set to issue 34.7 million new shares through a private placement valued at Rp 38.06 billion. The shares will be issued at Rp 1,097 per share, with a par value of Rp 20. This transaction is part of the company's Management and Employee Stock Option Program (MESOP). The execution is scheduled for December 17, 2025, coinciding with the listing of PT Super Bank Indonesia Tbk (SUPA).

SULI's Expansion Strategy

SULI is planning a more substantial capital raise through the issuance of up to 632.07 million shares, representing 10% of its total paid-up capital. The nominal value of these shares is Rp 100. According to the company's management, this private placement aims to strengthen its capital structure and financial position. Additionally, the increased share liquidity is expected to provide better trading dynamics and diversify the company's funding sources beyond traditional loan facilities.

Market Implications

These private placements indicate a strategic shift among Indonesian companies to optimize their capital structure as they approach year-end. The success of these plans will likely have significant implications for the companies' stock performance and overall market positioning in the Indonesian capital market.