Indonesian media detikfinance reported on January 16 that Indonesian tobacco company PT Bentoel Internasional Investama Tbk has completed the formal transformation from a publicly listed company to a private company. The Indonesian Stock Exchange (BEI) officially delisted the company on January 16.
According to the announcement of PT Bentoel Internasional Investama Tbk, the Indonesian Stock Exchange approved the delisting of the company’s shares from the exchange on January 16, 2024. The announcement was signed by Rina Hadriyani, Head of Corporate Valuation Department and Pande Made Kusuma Ari, Head of Trading Management and Operations Department of Indonesia Stock Exchange.
The announcement also made it clear that if Bentoel intends to list on the stock market again, it can do so in accordance with current regulations. According to detikcom records, Bentoel plans to withdraw from the stock market starting in 2022. During this process, the company encountered some difficulties because some independent investors did not participate in the delisting process.
Dinar, the company's CEO, said at the shareholders' meeting at Mercure Hotel in Jakarta: "We are paying attention to the Dlist process. This process is currently underway." It is understood that almost all RMBA shares are owned by British American Tobacco (BAT), Only 0.04% of the shares remain in public hands. For these shareholders, the company is currently unable to obtain their attendance information.
Dinar said: "For those shareholders whose attendance or location we do not know, we have tried to contact them, but they have not given any feedback. Therefore, we have requested the help of a third party. This process will continue. , we will try our best to complete this incident."
According to 2022 data, Bentoel's net profit is 953 billion Indonesian rupiah (approximately US$61 million), an increase of 11.87% from the previous year. The company stated that the delisting was to better respond to the market environment and future development needs.
