Bisnis.com, JAKARTA - Voluntary tender offer plan for shares of PT BFI Finance Indonesia Tbk. (BFIN) by the company's controlling shareholder, namely Trinugraha Capital & Co SCA (TC), has not received an effective statement from the Financial Services Authority (OJK).

It was conveyed by the management of BFI Finance through the disclosure of information on the Indonesian Stock Exchange, Friday (18/2/2022).

"The TC's voluntary tender offer plan is currently in the process of obtaining an effective statement from the OJK," said BFI Finance Director Sudjono in his announcement, quoted Sunday (20/2/2022).

The process of obtaining the effective statement slipped from its original schedule. Based on the voluntary tender schedule of BFIN shares by TC, the effective statement by OJK is scheduled for 18 February 2022.

Furthermore, the date of the voluntary tender offer statement is February 21, 2022. Next, the voluntary tender offer period is scheduled for February 22 - March 23, 2022 and the estimated payment date is April 4, 2022.

The management of BFI Finance said, TC plans to increase its current shareholding by 42.81 percent by buying the company's shares available in the capital market with a maximum amount of 57.12 percent.

Referring to the prospectus in Bisnis Indonesia daily, Thursday (20/1/2022), TC stated that it will offer voluntary tenders of 9,131,865,960 (rounded to 9.13 billion). With a bid price of Rp1,200 percent per share, the total value of voluntary tenders can reach the range of Rp10.96 trillion.

After a voluntary tender, assuming all shareholders tender for their shares, TC will hold 100 percent of BFIN's shares. However, TC is committed to BFIN being able to meet the free float conditions, which are at least 7.5 percent of the shares are publicly owned.