Flooring Guide by Cinvex – , JAKARTA – In a significant move to enhance market liquidity, PT Multi Artha Pratama, the controlling shareholder of property developer PT Pantai Indah Kapuk Dua Tbk. (PANI), divested a substantial stake of 178.23 million shares in PANI. This strategic transaction amounted to an impressive Rp2.50 trillion.
Markus Kusumaputra, Director of PANI, confirmed that the divestment was executed in a single transaction on October 6, 2025. According to Markus, as stated in a public disclosure on Monday (October 6, 2025), the primary objective of this transaction is to “increase the public’s ownership portion, with the aim of boosting stock liquidity and broadening the reach to both foreign and domestic investor types.”
Detailing the sale, Markus specified that Multi Artha Pratama offloaded the PANI shares at a price of Rp890 per share, thereby securing fresh funds totaling Rp2.50 trillion from the divestment. Crucially, Markus underscored that despite the significant sale, this transaction does not alter Multi Artha Pratama’s position as the controlling shareholder of PANI. “PT Multi Artha Pratama remains the controller of PT Pantai Indah Kapuk Dua Tbk, both before and after the transaction,” he affirmed.
Following the transaction, Multi Artha Pratama’s ownership in PANI saw a slight reduction, decreasing from 15,202,156,535 shares, or an equivalent of 89.93% voting rights, to 15,023,918,735 shares, representing 88.88%. On the Indonesia Stock Exchange, PANI shares demonstrated robust performance, closing up 4.34% or 650 points at Rp15,625 per share during the first session on Monday (October 6, 2025). This impressive valuation also reflects a significant 9.08% strengthening over the past month.
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PANI’s Rp300 Billion Private Placement
This latest move follows an earlier strategic decision by the property issuer, affiliated with conglomerate Sugianto Kusuma, also known as Aguan. PANI had previously announced its intention to conduct a capital increase without pre-emptive rights (PMTHMETD), or a private placement, valued at Rp300 billion.
According to a public disclosure published on Tuesday (August 26, 2025), PANI’s management indicated that this corporate action was slated for September 2, 2025. It involved the issuance of 20.91 million new shares, each with a nominal value of Rp100. Significantly, all these new shares were subscribed by PT Multi Artha Pratama, the company’s controlling shareholder, reinforcing its stake.
The execution price for this third PMTHMETD was set at Rp14,350 per share. Consequently, the company successfully raised approximately Rp300.06 billion from this strategic corporate action. PANI’s management clarified that the fresh capital secured from this corporate maneuver would be primarily channeled towards strengthening its capital structure. It would also serve to bolster the sustainable business operations of its subsidiaries: PT Cahaya Inti Sentosa, PT Panorama Eka Tunggal, and PT Karunia Utama Selaras, in which PANI holds over 99% ownership.
Upon completion of this action, the company’s placed and paid-up capital saw an increase, reaching Rp1.69 trillion. The company emphasized that the execution of this PMTHMETD is an integral component of its long-term business plan. This strategy aims to fortify its fundamental business operations, particularly across the real estate sector, the fisheries processing industry, and cold storage services, all managed through its robust subsidiary entities.
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Summary
PT Multi Artha Pratama, the controlling shareholder of PT Pantai Indah Kapuk Dua Tbk. (PANI), divested 178.23 million shares in PANI for Rp2.50 trillion on October 6, 2025. This strategic move aimed to increase public ownership and boost stock liquidity. Despite the significant sale, Multi Artha Pratama remains PANI’s controlling shareholder, with its ownership reducing slightly from 89.93% to 88.88%.
This divestment followed an earlier private placement in September 2025, where PANI raised Rp300 billion by issuing 20.91 million new shares. Multi Artha Pratama subscribed to all these new shares, reinforcing its stake. The funds from this private placement were intended to strengthen PANI’s capital structure and support its subsidiaries’ operations in real estate, fisheries processing, and cold storage.