BIKE Applies for Unsuspension, PT Penajam Prepares Rp1 Trillion Capital

PT Sepeda Bersama Indonesia Tbk (BIKE), an issuer in the bicycle trading sector, has officially submitted a request to the Indonesia Stock Exchange (BEI) for the reopening (unsuspension) of its share trading. This step follows the completion of the majority acquisition transaction by the new controller, PT Penajam Makmur Jaya (PMJ). In its latest disclosure, BIKE’s management confirmed that PT Penajam Makmur Jaya has taken over 921.5 million shares, equivalent to 71.22% from the previous shareholders. Cumulatively, PMJ’s ownership stake after all transaction stages reaches 74.936%, while the public portion remains at 25.064%. Through this new structure, Cahyadi has been designated as the Ultimate Beneficial Owner of the company. As part of the post-acquisition strategy, BIKE plans to diversify its business into strategic sectors, namely energy and technology. To support this expansion, PT Penajam Makmur Jaya is committed to providing financial support in the form of a business capital loan worth Rp1 trillion. Although venturing into new sectors, management emphasises that the core business in bicycles will be maintained and developed sustainably. “The company plans to add Indonesian Standard Business Classification (KBLI) codes to support this business development,” wrote BIKE’s President Director, Andrew Mulyadi, in the suspension reopening request letter to the stock exchange authority. Regarding the issuer’s status, the new controller is committed to keeping BIKE as a publicly listed company on the Indonesia Stock Exchange. With respect to capital market regulatory obligations, the new controller states it will carry out a Mandatory Tender Offer (MTO) to minority shareholders. The purchase price in the MTO will be calculated based on the average trading price on the exchange over 90 days, after obtaining effective approval from the Financial Services Authority (OJK).