IDX Response: Astrindo (BIPI) Emphasises Divestment Plan Still in Preliminary Stages - BCA Sekuritas

PT Astrindo Nusantara Infrastruktur Tbk (BIPI), or the Company, has confirmed its strategic plan to divest or release ownership of shares in its subsidiaries operating in the coal mining sector. This step is taken as part of the company’s major transformation towards a more sustainable and environmentally friendly business portfolio.

In an official response letter to the Indonesia Stock Exchange (IDX) dated 24 April 2026, Astrindo’s Company Secretary, Kurniawati Budiman, explained that the company is currently conducting negotiations with several potential buyers. However, management emphasised that this process is still in the early stages.

“The Company has not signed a Letter of Intent (LoI) or a conditional share purchase agreement (CSPA). Therefore, there is currently no binding agreement with any party,” Kurniawati stated in her written remarks.

Strategic Objectives and ESG Focus

This divestment plan is not merely an ordinary corporate action but a measured step to optimise the company’s investment structure. Astrindo aims to accelerate the business transition to the renewable energy sector and the development of clean energy-based infrastructure, in line with Environmental, Social, and Governance (ESG) principles. Regarding details of the subsidiaries to be divested, Astrindo’s management stated that specific information cannot yet be provided. This is because the internal evaluation process and discussions with potential partners are still preliminary and confidential.

Transparency Commitment

Management promises to promptly provide further information disclosures if there are material developments, such as the signing of agreement documents or fulfilment of material transaction obligations in accordance with applicable regulations. To date, the company assures that there are no other material events disrupting the company’s operations or significantly impacting share prices. Astrindo reaffirms its commitment to prioritising good corporate governance in every strategic step.