PT Elang Makhota Teknologi Tbk (EMTK) will conduct a mandatory tender offer of up to 1.659 billion shares (28.21%) owned by public shareholders of PT Sarana Meditama Metropolitan Tbk (SAME) or Omni Hospitals with an offering price of Rp150 per share.

According to the brief prospectus published on Friday (15/1), the mandatory tender offer has a total value of Rp248,850 billion.

The company has appointed  PT Mandiri Sekuritas as the consultant for the tender offer plan. The implementation schedule is that the tender offer period will take place on January 18-February 16, 2021, and complete on February 19, 2021.

This mandatory tender offer is carried out as a result of Emtek's takeover of Omni Hospitals.

On October 16, 2020, Emtek signed a sale and purchases agreement with PT Omni Health Care (OHC) following the acquisition of the target company's shares amounting to 4.241 billion shares.

On November 30, 2020, Emtek and OHC completed the purchase and transfer of the target company's shares through crossing in the negotiation market as many as 4.241 billion shares owned by OHC or 71.88% worth Rp581.017 billion.

The company took over the target company intending to diversify its investment portfolio and develop the health business.