Morris Capital Prepares Rp 93B for Mandatory Tender Offer of PIPA Shares
Executive Summary
Key insights and market outlook
PT Morris Capital Indonesia, the new controller of PT Multi Makmur Lemindo Tbk (PIPA), has announced a mandatory tender offer (MTO) with a budget of Rp 93.45 billion. The offer price is set at Rp 54.47 per share, allowing Morris Capital to acquire up to 1.71 billion shares (50.08% of paid-up capital). The tender offer period will run from December 23, 2025 to January 22, 2026, with settlement scheduled for February 3, 2026.
Deep Dive Analysis
Morris Capital Launches Mandatory Tender Offer for PIPA Shares
Acquisition Details
PT Morris Capital Indonesia, the new controlling entity of PT Multi Makmur Lemindo Tbk (PIPA), has officially launched a mandatory tender offer (MTO) as required by regulations. The company has allocated Rp 93.45 billion for this acquisition, with an offer price of Rp 54.47 per share.
Tender Offer Structure
The MTO will enable Morris Capital to purchase up to 1.71 billion shares, representing 50.08% of PIPA's paid-up capital. The tender offer period will commence on December 23, 2025 and conclude on January 22, 2026, with the settlement date scheduled for February 3, 2026.
Implications
This mandatory tender offer marks a significant step in Morris Capital's acquisition of PIPA, demonstrating their commitment to increasing their stake in the company. The successful completion of this MTO will solidify Morris Capital's position as the controlling shareholder of PIPA.
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Story Info
Topics Covered
Key Events
Mandatory Tender Offer Announcement
Corporate Control Change