It is just another day at the office as we are pleased to announce that we have successfully advised PT United Tractors, Tbk. (IDX: UNTR) and its subsidiary PT Energia Prima Nusantara (EPN) in placing portfolios directly and indirectly worth 31,49% of PT Arkora Hydro, Tbk.’s shares (IDX: ARKO) through fixed allotment and over-the-counter transaction. AHRP was involved in every strategic thinking since the initial phase of the transaction, from identifying and navigating the risks in the pre-IPO allotment process, assisting through the drafting and negotiation, closing the deal, and guiding both UNTR and EPN through the capital market post-closing obligations.
In the broader context, this move allows UNTR, as a part of Astra Group, to expand and diversify its portfolio towards renewable and environmentally friendly projects, whereby this move also creates another additional value to align with Astra’s business development strategy.
Our team was led by our Senior Partner Abdul Haris M. Rum, together with Senior Associate Aryangga Pradana Febrianto, and assisted by Associate Merina Elfian.
We are proud to be a part of this project, and once again, we would like to congratulate UNTR for closing this strategic deal.