UNSP Shareholders Approve Rp4.35 Trillion Debt-to-Equity Conversion to Improve Financial Position

PT Bakrie Sumatera Plantations Tbk (UNSP) has secured shareholder approval to conduct a capital increase without pre-emptive rights (PMTHMETD) through a debt-to-equity conversion worth Rp4.35 trillion. The approval was granted during an Extraordinary General Meeting of Shareholders (RUPSLB) held on Friday, 3 July 2026, at Horison Suites & Residences Rasuna, Jakarta. UNSP is a publicly listed company with 13,863 public shareholders spread across 121 securities and custodians. The shareholder composition includes 55 percent local individuals, 31 percent local institutions, 13 percent foreign institutions, and 1 percent foreign individuals. The meeting achieved a quorum with 54.18 percent of total shares represented, and 99.99 percent of attending shareholders voted in favour of all agenda items. The approved plan involves converting the company’s debt to creditors into equity shares. Shareholders also agreed to amend Article 4, paragraphs (2) and (3) of the company’s Articles of Association to reflect the increase in issued and paid-up capital resulting from the debt-to-equity conversion. The total value of the PMTHMETD is set at Rp4,351,533,821,920, with the new Series B shares priced at Rp300 per share. The company stated that the transaction is conducted on an arm’s length basis, in compliance with Indonesia Stock Exchange regulations, and without disadvantaging non-controlling or non-major shareholders. Based on the company’s consolidated financial statements as of 31 December 2025, the corporate action is projected to leave total assets unchanged at approximately Rp3.49 trillion. However, total liabilities are expected to drop significantly from Rp8.76 trillion to Rp4.41 trillion, a reduction of Rp4.35 trillion, driven by decreases in both short-term and long-term liabilities.