Indonet Requests Shareholder Approval for Going Private
Digital infrastructure emitter PT Indointernet Tbk, or Indonet, plans to change the company’s status from a public company to a private company, including removing share listings from the Indonesia Stock Exchange. The company, with stock code EDGE, will request approval of the going private and delisting plan at an Extraordinary General Shareholders Meeting (RUPSLB) scheduled for Wednesday, 22 April 2026.
“If the going private and delisting plan is approved by the Extraordinary General Shareholders Meeting, the offer to purchase shares held by public shareholders will be made through a voluntary tender offer by Digital Edge (Hong Kong) Ltd,” management stated in a disclosure to the Indonesia Stock Exchange on Monday, 16 March 2026.
According to Indonet management, the offering price will be higher than the highest average daily trading price on the Indonesia Stock Exchange during the 90 days preceding the announcement of the Extraordinary General Shareholders Meeting.
Meanwhile, public shareholders unwilling to sell their shares in the voluntary tender offer will remain shareholders of the private company. Consequently, these public shareholders will no longer be able to sell their shares through the Indonesia Stock Exchange mechanism.
Based on management’s explanation, one reason the company is pursuing going private is that Indonet is currently part of the Digital Edge group ecosystem and there are changes to the group’s business strategy. Therefore, the company’s business activities will be supported by the Digital Edge group.
“Consequently, the company no longer requires funding from the capital market and has no plans to raise funds from it in the future,” management stated.
Additionally, the company wishes to focus more on managing its investment portfolio and assets without pressure from stock price volatility or public scrutiny. According to management, Indonet shares are not actively traded on the Indonesia Stock Exchange. Public shareholders hold 159.5 million Indonet shares with a nominal value of Rp 1.59 billion, accounting for 7.90 per cent of total EDGE shares.