Bakrie-owned Issuer (VKTR) Plans Massive Rights Issue
Electric vehicle manufacturer PT VKTR Teknologi Mobilitas Tbk. (VKTR) plans to increase its capital through a rights issue (PMHMETD I), offering up to 25 billion shares with a nominal value of Rp10 per share. In its information disclosure, VKTR management has not yet specified the exact execution price, but stated that the execution price of each share represents up to 36.36% of the capital after the rights issue is completed.
The Bakrie Group entity explained that approximately 80% of the funds raised will be allocated to its subsidiary, PT Sarana Ekomobilitas Indonesia (SEI). SEI requires working capital to purchase electric vehicles from VKTR, a move expected to take place between 2026 and 2027. This strategic step aims to support SEI’s electric vehicle rental business under the e-Mobility as a Service (e-MaaS) model, which seeks to provide efficient mobility solutions for customers. SEI has already established six memoranda of understanding with potential clients.
The remaining funds from the rights issue will be used for VKTR’s working capital to meet operational needs, including general administrative costs and the purchase of inventory for electric buses, electric trucks, electric transporters, and electric forklifts. Completely Knocked Down (CKD) inventory will be sourced from PT VKTR Sakti Industries (V1SI), while Completely Built Up (CBU) inventory will be purchased from third parties. These purchases are projected to occur between 2026 and 2028.
VKTR management stated that the planned use of funds will strictly adhere to Indonesian capital market regulations. For every seven registered ordinary shares held as of 30 July 2026, shareholders will receive four Rights Issue warrants (HMETD), where one warrant entitles the holder to purchase one new share. The new shares from the rights issue will be tradable on the Indonesia Stock Exchange (IDX) and off-market for five trading days, from 3 August 2026 to 7 August 2026. The listing of the new shares on the IDX is scheduled for 3 August 2026.