Alright, listen up – PT Adhi Kartiko Pratama Tbk. (NICE) has officially been scooped up by LX International Corp., snagging a cool 60% of the company. What’s the game plan? They’re aiming to supercharge NICE’s value in the nickel processing and electric vehicle battery scene.
Post-Deal Corporate Shuffle
This whole corporate shuffle is like the sequel to the Conditional Shares Sale and Purchase Agreement that everyone signed. You can find all the juicy details in the prospectus from PT Adhi Kartiko Pratama Tbk.’s initial public offering.
In this fancy transaction, NICE shares are changing hands – PT Sungai Mas Minerals, PT Inti Mega Ventura, Michael Adhidaya Susantyo, and Victor Agung Susantyo are passing their shares over to PT Energy Battery Indonesia (EBI). And guess who’s steering the ship at EBI? Yup, it’s LX International Corp., now holding a whopping 99.99% of the shares.
“They sealed the deal with each share rocking a price tag of Rp 438,” management spilled the beans on Wednesday (January 17, 2024).
After this whole acquisition drama, EBI now proudly rocks 3,649,212,000 NICE shares, claiming a solid 60% of the total shares in the game.
LX International: Taking Charge for ESG Initiatives
Now, with LX International Corp. calling the shots at NICE, it’s not just a regular changing of the guard. This move syncs up with Indonesia’s grand plans for the nickel industry and diving headfirst into global Environmental, Social, and Governance (ESG) initiatives.
“Having LX International Corp. on board as the new big cheese at NICE aligns perfectly with Indonesia grand plans for nickel and their active role in global ESG initiatives,” they made sure to point that out.
As for the stock market vibe, in today’s first trading session (January 17, 2024), NICE stocks pulled off a slick move – a 9.35% jump, landing them at a cool 760. The stocks were in play 21,230 times, racking up a total value of Rp 74.77 billion.
Closing Thoughts: NICE’s Next Chapter with LX International
In a nutshell, NICE is gearing up for a fresh chapter, with LX International Corp. holding the reins. It’s not just a power shift; it’s about propelling NICE into the limelight of the nickel industry and making a splash in the global sustainability scene. And as the stocks do their post-acquisition dance, it’s pretty clear that investors are on board for this thrilling journey.