APAC Realty to buy remaining 9.4% stake of ERA Indonesia for $1.6m

It is offering $0.02 (IDR250) per unit for the remaining 89.3 million shares.

APAC Realty plans to acquire the remaining 9.4% stake in PT ERA Graharealty Tbk (ERA Indonesia) for about $1.6m in connection with the proposed delisting of the unit from the Indonesia Stock Exchange.

It is offering $0.02 (IDR250) per share for the remaining 89.3 million shares through a voluntary tender offer. The acquisition will be funded using internal resources.

The Singapore-listed property services group currently owns about 90.6% of ERA Indonesia, or 860.6 million shares.

The acquisition and delisting are expected to be completed by March 2027, subject to the required approvals.

APAC Realty said the proposed acquisition and delisting are intended to give management greater flexibility, reduce listing compliance costs, and improve operational efficiency.

“ERA Indonesia no longer requires funding from the capital markets and has no plans to raise funds from the capital markets in the future,” it added.

The transaction is not expected to have a material impact on the group’s net tangible assets per share or earnings per share for the financial year ending 31 December 2026.

The deal remains subject to approvals from ERA Indonesia’s independent shareholders and Indonesian regulators.

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