Jakarta - PT Provident Capital Indonesia (PCI) conducted a voluntary tender offer of 736.72 million shares of PT Provident Investasi Bersama Tbk (PALM), representing 10.41% of all fully paid shares.

The company's prospectus, published on Monday (9/5), stated that the voluntary tender offer price was Rp850 per share.

Thus, the total value of voluntary tender offers reached around Rp626.21 billion.

After the transaction plan is realized, PCI owns 3.88 billion shares, representing 54.85% of PALM's shares.

Since 2012, PCI and PT Saratoga Sentra Business have served as PALM's controllers.

PIC is committed to continuing to support the development of PALM's business activities in the future and believes that PCI can help PALM to achieve the expected growth.

The securities company handling this voluntary tender offer is Indo Premier Sekuritas. The voluntary tender offer period is September 30, 2022.