BNBR in the Spotlight, Planning Jumbo Rights Issue and Entering This Business
Jakarta, CNBC Indonesia - The listed holding company of the Bakrie Group, PT Bakrie & Brothers Tbk (BNBR), is currently the main focus of attention among market participants due to a series of corporate actions. The company’s net profit for 2025 was recorded to have surged by 50.7% to Rp493.85 billion.
This profit increase has attracted considerable attention because it occurred amid a slight decline in the company’s operational revenue to Rp3.74 trillion. The main driver of this performance apparently stems from book profit, or accounting gains, amounting to Rp422.37 billion. These gains result from the obligation to revalue assets in accordance with accounting standards, shortly after BNBR completed the acquisition of a 90% stake in PT Cimanggis Cibitung Tollways (CCT) at the end of 2025.
On the other hand, BNBR is currently finalising an action for Capital Increase with Pre-emptive Rights (PMHMETD), or a jumbo-scale rights issue. The company will issue 86.7 billion new Series E shares at an exercise price of Rp12 per share with a 2:1 ratio. It is planned that the majority of the fresh funds obtained from this will be allocated to repay trillions of rupiah in debt to several parties.
This balance sheet restructuring move is projected to substantially improve the company’s capital structure, with a target to reduce the Debt-to-Equity Ratio (DER) from 536.02% to 211.57%.
With a much healthier balance sheet, BNBR is now paving the way for expansion into a sector promising high growth, namely the data centre business. Through its affiliate entity, PT Multi Kontrol Nusantara (MKN), the company has realised the purchase of strategic land spanning 1.67 hectares in Kalideres, West Jakarta, with a transaction value of Rp500 billion.
The land is being prepared for building an inner city data centre facility, a model of data centre in densely urban areas that is currently in demand by technology giants. This expansion is also accompanied by strict risk mitigation; BNBR holds a special clause requiring the seller to return the down payment of Rp152.4 billion in full, 100% without deductions, if the project is forced to be discontinued.
The combination of fundamental catalysts, from the toll road acquisition, debt ratio improvement, to the sentiment of the company entering the technology ecosystem, has been responded to aggressively on the stock exchange floor. BNBR’s share movements have been very dynamic recently, marked by a sharp surge of 12.62% to Rp232 per share, completing a rally that has pierced more than 400% in the last six months.