Aldira Sunrise 18 Oktober 2024

ADRO discloses more details on AAI divestment plans
Adaro Energy Indonesia (ADRO) updated information regarding plans to sell its subsidiary, Adaro Andalan Indonesia (AAI). This information disclosure contains more details regarding the impact of the release of AAI on ADRO’s performance, as well as the price per share of AAI in the sales process. The percentage of AAI’s revenue and net profit reached 89.4% and 104.8% respectively of ADRO’s revenue and net profit. Based 1H24 report, AAI’s divestment caused a decrease in ADRO’s consolidated revenue and net profit, respectively by 65% and 64%. The overall proposed transaction value ranges from USD 2.44B to USD 2.62B or equivalent to 31.8 – 34.1% of ADRO’s total equity. With a total number of AAI shares at 7B, the price per share will be at USD 0.35. ADRO will offer AAI shares to all ADRO shareholders whose names are recorded in the shareholder register on the date currently planned to be 27 Nov 24, or another date to be announced in the PUPS Prospectus. (Kontan)
NETV will do a reverse stock split and release Series B shares
Net Visi Media (NETV) has received permission at EGMS to carry out a reverse stock split. NETV will combine shares with a ratio of 2:1, where the nominal value per share will change to IDR 200 from IDR 100. This corporate action will bring the number of issued and fully paid shares in NETV to 11.73B from 23.45B shares. At the EGMS, NETV management has also been approved to issue series B shares with a nominal value of IDR 50 per share, where the shares in the portfolio will be 83.09M in series B. (Kontan)
RMKE coal transportation and sales volume increases in 9M24
RMK Energy (RMKE) has loaded 812 ships with a capacity of 6.4M tons of coal in 9M24 (+ 2.4% yoy), achieving 64.3% of this year’s coal transport volume target. Specifically in 3Q24, RMKE loaded 121 ships with a volume capacity of 2.5M tons of coal (+27.9% yoy), offsetting the decline in 1H24. RMKE also sold 776,600 tons of coal in 3Q24 (+40.2% yoy), bringing the total 9M24 sales to 2.1M tons (+14.1% yoy), achieving 57.7% of this year’s sales target. RMKE’s coal sales volume growth was supported by in-house mining production, Truba Bara Banyu Enim (TBBE), which produced 320,100 tons of coal in 3Q24 (+39.8% yoy), contributing 33.4% of the total sales volume in 9M24. (Kontan)