PTPP Plans Divestment in Several Subsidiaries to Improve Cash Flow

PT PP (Persero) Tbk is planning to divest its shareholdings in several subsidiaries as a step to improve the company’s cash flow. The plan was disclosed by management in an explanatory letter to the Indonesia Stock Exchange (BEI) regarding the request for clarification on stock transaction volatility, uploaded to the IDX website on Wednesday (6/5). In the disclosure dated 5 May 2026, the company stated that the divestment process will involve financial and legal advisors to ensure it proceeds in accordance with business principles and good corporate governance. “The company plans to realise the divestment of shareholdings in several company subsidiaries as a step to improve the company’s cash flow,” wrote management. The company also affirmed that it will continue to provide information disclosures related to the implementation of the divestment in accordance with applicable laws and regulations. In addition to revealing the divestment plan, the company confirmed that to date, there is no information or material facts that could affect the value of the company’s securities or investors’ investment decisions as regulated by the Financial Services Authority (OJK) and BEI regulations. Management also stated that it is unaware of any activities by shareholders as regulated in POJK Number 11/POJK.04/2017 regarding ownership reports or any changes in the ownership of the public company’s shares. In further explanation, the company disclosed that it will hold a General Meeting of Shareholders (GMS) on 19 May 2026 to seek shareholder approval regarding the planned adjustment of share classification owned by BP BUMN. Previously, on 9 January 2026, the company had submitted a disclosure regarding the transfer of 31,619,477 Series B shares from PT Danantara Asset Management (Persero) to BP BUMN. These Series B shares are planned to be converted into Series A shares as part of fulfilling the provisions of Law Number 16 of 2025 on State-Owned Enterprises. The regulation states that the Republic of Indonesia must hold 1% of Series A Dwiwarna shares in SOEs through the Head of BP BUMN. The explanatory letter to BEI was signed by Finance Director Agus Purbianto.