Just 5 Years After IPO, This Data Centre Issuer Plans Delisting with Tender Offer at Rp11,500
Jakarta, CNBC Indonesia - The data centre issuer PT Indointernet Tbk (EDGE) plans to delist from the Indonesia Stock Exchange (BEI) as part of its move to go private. EDGE is offering to buy back public shares through a tender offer at a premium price of Rp11,500 per share.
According to the BEI disclosure, the go-private and delisting plan will first seek approval at an Extraordinary General Meeting of Shareholders (EGMS). If approved, the controlling shareholder through Digital Edge (Hong Kong) Ltd (DE) will carry out the voluntary tender offer.
DE will purchase as many as 159,598,500 shares, equivalent to 7.90% of the total placed and fully paid-up shares. The funds for the tender offer will come from internal sources and/or other funding in accordance with applicable regulations.
As information, the Rp11,500 per share price represents a premium of 141.2% higher than the average of the daily highest trading prices on the BEI over the 90 days prior to the EGMS announcement for the Go Private and Delisting Plan, which was Rp4,768, as quoted on Monday (20/4/2026).
If the go-private and delisting plan is approved and the tender offer is completed, EDGE will change its status to a closed company. In that situation, public shareholders who do not participate in the tender will still hold their shares but will no longer be able to trade them on the BEI.
The number of company shareholders will also decrease to below 50 parties or in accordance with Financial Services Authority (OJK) regulations. This marks the end of EDGE’s status as a public company in the Indonesian capital market.
Previously, Indointernet’s President Director, Andrew Joseph Rigoli, explained that EDGE is part of the Digital Edge Group, which operates in digital infrastructure, including data centres and fibre optics. Although the data centre sector is still growing, industry competition is considered increasingly tight.
Management revealed two main considerations behind the delisting plan.
First, the company wants to simplify decision-making processes and increase flexibility in executing group-level strategies and long-term investments, which is deemed more optimal as a closed company.
Second, EDGE’s share liquidity in the market is considered limited, so its status as a listed company is seen as providing little added value.
In addition, the go-private and voluntary delisting process is said to provide a fair and orderly exit mechanism for public shareholders.
EDGE is known to have first listed on the BEI on 8 February 2021, meaning the company has only been public for five years. At that time, the company offered shares at Rp7,375 per share and managed to raise net proceeds of Rp596 billion.
In 2023, the company conducted a stock split at a 1:5 ratio, meaning the IPO share price for EDGE is equivalent to Rp1,475 per share compared to the current suspended share price of Rp4,790 per share. This means that since the IPO, EDGE’s shares have surged 224%.