Billion-Rupiah Negotiated Transaction in MORA Shares: Who is Behind It?

A negotiated transaction was observed involving the telecommunications issuer PT Mora Telematika Indonesia Tbk (MORA), or Moratel. On the negotiation market, MORA shares were traded at a value of Rp17.64 billion. It is known that 4,150,000 MORA shares were transacted at a price of Rp4,250 per share. It is still unknown who the broker facilitating this transaction is, as well as the purpose of this transaction. Following this news, MORA shares fell 1.89% to Rp4,660 as of 09:26 WIB. Its market capitalisation reached Rp222.63 trillion. This negotiated transaction occurred amid news of the company’s business manoeuvres. Most recently, MORA is planned to merge with a company from the Sinar Mas Group, PT Eka Mas Republik or MyRepublic. Based on documents received by CNBC Indonesia, in this corporate action, MORA will be the company receiving the merger. MORA shareholders will be diluted by 50.5% due to a capital increase. For information, MyRepublic along with PT Telemadia Komunikasi Pratama, a subsidiary of Surge, became the winners of the 1.4 GHz frequency auction. Specifically for MyRepublic, the service won two regions out of the three contested regions, namely Region II and Region III.