Assisted PT Sentul City Tbk (BKSL) in its IDR5 Trillion Rights Issue

We are delighted to announce the succesful completion of this long-awaited corporate action where Ahmad Zakaria, our Senior Partner, and Paula Aprijanto, our Senior Associate, have assisted PT Sentul City Tbk’s (BKSL) IDR5 Trillion Rights Issue. This deal marks one of the biggest rights issues in 2023 to date.

 

As one of Indonesia’s leading property company with the largest landbank in the country where they have about 3,100 hectares of land, around IDR3 Trillion obtained from the Rights Issue will be used by BKSL to acquire more landbanks. It is critical to do expansion for the company’s sustainability, which will significantly contribute to BKSL’s income. BKSL intends to develop these newly acquired lands to further expand Sentul City township.

 

UMBRA assisted BKSL with end-to-end services; we conducted due diligence, advise on the offering structure, and provide legal advise to support BKSL. By far, this project is one of the most challenging yet rewarding deal our team has ever dealt with. We sincerely hope this corporate action will urge more public companies to seek funding from public investors in 2023 and prove that Indonesian capital market can become a leading market in Southeast Asia despite the current economic turmoils.

 

We cannot thank BKSL enough for trusting us. Huge congratulations to all parties involved!

 

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FEATURED LAWYERS

Zaka

Ahmad Zakaria
Senior Partner

zaka@umbra.law