Impact of MyRepublic Merger: MORA Shareholders Face 50.5% Dilution

Jakarta — PT Mora Telematika Indonesia Tbk (MORA) has announced plans for a merger with PT Eka Mas Republik, commonly known as MyRepublic.

According to the Merger Plan Summary released on 17 March 2026, the merger will result in a reduction in shareholding percentage or dilution for MORA shareholders of 50.5%. This is caused by an increase in share capital of the receiving company of 24,127,524,045 units.

In theory, the shareholding percentage held by MORA and MyRepublic shareholders will be diluted proportionally based on the conversion ratio. Each MyRepublic share will be equivalent to 7,703.81 shares in MORA.

The planned merger between Moratelindo and MyRepublic was previously disclosed in the company’s prospectus published on 18 December 2025. Moratelindo, as a listed company, will be the receiving company in the merger, whilst MyRepublic Indonesia will be the merging company.

Following the effective merger, PT Dian Swastatika Sentosa Tbk (DSSA) will become the controlling shareholder of PT Ekamas Mora Republik Tbk (MORA), the resulting merged entity, through indirect ownership.

Krisnan Cahya, President Director of PT Dian Swastatika Sentosa Tbk (DSSA), stated that the merger will also support the government’s programme to accelerate and equalise the digital ecosystem in the country.

“Through strengthening network reach and continuous launches, we can drive an inclusive and sustainable local digital ecosystem,” he said in Jakarta on 23 December 2025.

The second benefit to the company is that the merger will create a stronger entity with high competitiveness through the combination of strategic, operational, technical, and financial advantages.

Beyond benefits to the company, this corporate action will provide benefits to consumers and users. The merger encompasses network and infrastructure capacity, enabling the provision of more stable, faster services with broader coverage to customers.

Moratelindo officially listed on the Indonesia Stock Exchange (BEI) in 2022. Moratelindo’s shareholder structure comprises PT Candrakarya Multikreasi with 35.99% of shares, PT Gema Lintas Buana with 30.18% ownership, and the public with 33.83%.

MyRepublic Indonesia’s shareholders comprise PT Innovate Mas Utama with 95.77% ownership, PT Innovate Mas Indonesia with 2.31%, PT DSST Mas Gemilang with 1.92%, and PT Buana Mas Sejahtera with below 1%.