Private Placement Completed, GPSO Ready for Business Expansion

JAKARTA – PT Geoprima Solusi Tbk (GPSO) has completed a capital increase without pre-emptive rights, or private placement, raising fresh funds of Rp 28.46 billion. The funds will serve as ammunition for the company to strengthen its business expansion, following the entry of a new controlling shareholder and the addition of several business lines through changes to the Indonesian Standard Industrial Classification (KBLI). Based on the company’s information disclosure, GPSO issued 66,674,000 new shares with a nominal value of Rp 50 per share and an exercise price of Rp 427 per share. All new shares were absorbed by PT PIMSF Pulogadung (PIMSF), which is now the new controlling shareholder and part of the Tjokro Group business network. At that exercise price, the company obtained funds amounting to Rp 28,469,798,000, which will be used to support business development. The implementation of the private placement was approved by shareholders at an Extraordinary General Meeting of Shareholders (EGMS) on 22 June 2026. According to the schedule, the distribution of shares to PIMSF took place on 3 July 2026, followed by the listing of the new shares on the Indonesia Stock Exchange (BEI) on 6 July 2026 and the announcement of the results on 8 July 2026. GPSO President Director Dionysius Tjokro stated that the entry of PIMSF as the new controller has brought about a change in the company’s business direction. One such change is the addition of several KBLI codes so that GPSO’s business activities are aligned with the Tjokro Group business ecosystem. The new business lines include KBLI 70209 for management and business consulting activities, KBLI 46599 for wholesale trade of office and industrial machinery along with spare parts and equipment, and KBLI 68129 for real estate activities involving own or leased non-residential buildings and land. Despite expanding its business lines, the company confirmed that its core business in wholesale trading of other machinery and equipment under KBLI 46599 will be maintained. The surveying, land mapping, and measurement services business will also remain part of the company’s portfolio. Management explained that the addition of the real estate KBLI is a strategic move to support the planned purchase of an asset owned by PT JIC, with an estimated value of Rp 78 billion. The asset will subsequently be leased out and is expected to provide additional recurring income for the company. This investment has also been included in GPSO’s capital expenditure plan for 2026. Regarding performance, management acknowledged that the company was undergoing administrative and operational adjustments post-acquisition in the third quarter of 2026. However, with the completion of the KBLI changes and the capital injection through the private placement, GPSO is optimistic that revenue and profit will begin to grow gradually starting from the second half of 2026 and continue in subsequent periods.