South Korea’s LX International buys Indonesian nickel miner AKP for $102 million, while digital asset provider PT Topindo Solusi Komunika has filed for an IPO.
LX International buys AKP for $102m
Indonesian nickel mining firm PT Adhi Kartiko Pratama Tbk (AKP) has been acquired by South Korea’s LX International for 1.6 trillion rupiah ($102 million), according to an announcement on Tuesday.
The acquisition follows a Conditional Share Sale and Purchase Agreement that was mentioned in AKP’s IPO prospectus.
LX International, through its subsidiary PT Energy Battery Indonesia (EBI), bought the shares held by PT Sungai Mas Minerals, PT Inti Mega Ventura, Michael Adhidaya Susantyo, and Victor Agung Susantyo in Adhi Kartiko. Post-acquisition, EBI holds a 60% stake in Adhi Kartiko.
Founded in 2008, Adhi Kartiko Pratama has nickel mining sites in Lameruru, North Konawe, and Southeast Sulawesi. It was listed on IDX on Jan 10, 2024, after raising 532.78 billion rupiah in the IPO.
Topindo Solusi Komunika targets $7m IPO
PT Topindo Solusi Komunika Tbk, a commercial technology provider, plans to raise 110 billion rupiah ($7 million) through an initial public offering (IPO), according to a prospectus filed on Tuesday.
Topindo will issue 875 million new shares, or 20% of its shares, to the public at 115-125 rupiah apiece.
The company plans to use the proceeds for working capital, IT development, and capital injection in subsidiaries.
Topindo’s book building will be set from Jan 15-19, 2024. The issue will be open from Jan 29 to Feb 1, while the shares will be listed on Feb 5.
Founded in 2018, Tipindo provides virtual products, including game vouchers, phone data, airline tickets, and instalment payment services.
