Geoprima Solusi completes Rp28.46 billion private placement

The wholesale trader of machinery and equipment, PT Geoprima Solusi Tbk (GPSO), has completed its implementation of a Capital Increase without Pre-emptive Rights (PMTHMETD), commonly known as a private placement, successfully raising funds worth Rp28.46 billion.

All shares resulting from the private placement were fully absorbed by PT PIMSF Pulogaderm (PIMSF) as the new Controlling Shareholder (PSP), which is part of the Tjokro Group business network.

In an official statement in Jakarta on Tuesday, GPSO President Director Dionysius Tjokro explained that the number of new shares issued in the private placement amounted to 66,674,000 registered ordinary shares.

“This action was executed with a par value of Rp50 per share and an execution price of Rp427 per share, bringing the total value to Rp28.46 billion,” said Dionysius.

Following the entry of PIMSF and the Tjokro Group, the company is undertaking significant adjustments to its business direction and model through the ratification of changes to the Indonesia Standard Industrial Classification (KBLI) to align with the new controlling shareholder’s business ecosystem.

Dionysius explained that the KBLI change aims to enable the company to capture broader market opportunities and create solid synergies.

“Through this change, the company can conduct business activities that are aligned and synergistic with the Tjokro Group business ecosystem. With this KBLI change, the Company is optimistic that it can expand revenue sources and strengthen business performance through synergy with Tjokro Group,” said Dionysius.

The new classification, KBLI 68129, pertains to real estate activities for non-residential buildings and land, whether owned or leased.

Nevertheless, Dionysius emphasised that the company will maintain its existing business line, KBLI 46599, which covers the wholesale of machinery, equipment, and other supplies.

“The business lines for surveying equipment, land mapping, and measurement services, which were the company’s previous focus, will also be maintained,” added Dionysius.

Specifically regarding the addition of KBLI 68129, he revealed that this was done to support the next corporate action, which involves the acquisition of assets from PT JIC with an estimated value of approximately Rp78 billion.