Chinese firm closer to take over Koka Indonesia
Monday, March 9 2026 - 09:03 AM WIB
By Romel S.Gurky
PT Liqun Investments Indonesia, a unit of China based Ningbo Lixing Enterprise Management Co Ltd, has signed a conditional share purchase agreement to acquire shares in construction firm PT Koka Indonesia Tbk (IDX: KOKA) for Rp37.19 billion ($2.2 million), the company said in a disclosure.
The agreement, signed on March 6, involves the purchase of shares from Gao Jing, Sun Ling, Gao Jinfeng and PT Kreatif Konstruksi Indonesia.
Koka Indonesia said the transaction aims to expand its business network and strengthen prospects in infrastructure construction.
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The company added that the transaction is not classified as an affiliated transaction under regulations issued by Otoritas Jasa Keuangan.
Completion of the deal is subject to conditions stipulated in the conditional share purchase agreement and applicable regulations.
The agreement follows an earlier plan disclosed by Koka Indonesia that Ningbo Lixing intends to acquire a 63.5% stake in the company, which would make it the new controlling shareholder and trigger a mandatory tender offer to minority shareholders.
Ningbo Lixing Enterprise Management Co. Ltd., based in Ningbo, Zhejiang province, operates in enterprise management, management consulting, investment management and information advisory services.
Editing by Alexander Ginting