JAKARTA – PT Solusi Tunas Pratama Tbk (SUPR), a prominent tower infrastructure issuer affiliated with the Djarum Group, has announced its strategic intent to transition from a public company to a private entity (Go Private) and subsequently delist its shares from the Indonesia Stock Exchange (BEI). This significant corporate move, communicated by management, is framed as a strategic imperative designed to proactively navigate evolving market conditions and support the company’s long-term business evaluation.
In an official disclosure on Monday, April 6, 2026, SUPR management formally notified its shareholders of the proposed Go Private and Delisting plan. They underscored that as a publicly listed entity, the company is obligated to strictly adhere to the provisions outlined in POJK 45/2024 throughout this complex process.
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Management further clarified that the successful execution of this pivotal corporate action hinges upon securing approval from independent shareholders during an Extraordinary General Meeting of Shareholders (EGMS). Specifically, POJK 45/2024 stipulates that the Go Private and Delisting proposals must be endorsed by shareholders who possess no personal economic interest in the transaction. This excludes directors, commissioners, major shareholders, the company’s controllers, and any affiliates thereof, ensuring an impartial decision-making process.
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The critical EGMS is slated for May 20, 2026, in Jakarta, and will also offer electronic participation via the eASY.KSEI platform, accommodating broader shareholder engagement.
Challenges with Free Float Compliance
This strategic move to go private is largely influenced by the persistent challenges SUPR has faced in complying with the BEI’s minimum free float requirements, a crucial regulatory standard for publicly traded companies. The company’s shares have been under suspension since April 2025, a clear indicator of the ongoing struggle. Despite numerous concerted efforts, SUPR has thus far been unable to satisfy these mandatory public float provisions.
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“Considering these factors and following a comprehensive evaluation by management of the company’s long-term business strategy and the Djarum Group’s overall asset management and operational efficiency – including potential share ownership restructuring within the Group – the company has resolved to pursue the Go Private and Delisting plan,” stated SUPR management, outlining the strategic depth behind the decision.
Protelindo Prepares Tender Offer
To facilitate this transition, the controlling shareholder, PT Profesional Telekomunikasi Indonesia (Protelindo), will launch a voluntary tender offer aimed at acquiring public shares. The proposed tender offer price is set at an attractive Rp45,000 per share, significantly exceeding the historical average price stipulated by regulatory guidelines, demonstrating a commitment to fair value for existing shareholders.
This pricing aligns with regulatory mandates requiring the purchase price to be higher than the 12-month average of the daily highest trading prices on the BEI, calculated from either the last trading price or the suspension date, which stood at Rp42,295 per share. Thus, Protelindo’s offer of Rp45,000 per share reflects compliance and a premium. Should the plan gain approval, public shareholders who opt not to participate in the tender offer will transition into holders of shares in a private company, with altered liquidity prospects.
It is important to note that the ultimate controlling parties of SUPR are Martin Basuki Hartono and Victor Rachmat Hartono, key figures within the influential Djarum Group. Concurrently, the BEI has taken immediate action, temporarily halting the trading of SUPR shares across all markets effective April 6, 2026, a direct consequence of the company’s formal delisting announcement.
Solusi Tunas Pratama Tbk. – TradingView
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