Futura Energi responds to IDX inquiry on potential change of control
Saturday, August 23 2025 - 10:02 AM WIB
By Rara Suratmi
PT Futura Energi Global Tbk (IDX: FUTR), a diversified holding company focused on renewable energy, has issued a formal response to the Indonesia Stock Exchange (IDX) following a request for clarification regarding a potential change in the company’s controlling shareholder, a recent board resignation, and other corporate developments.
In a letter dated August 22, 2025, addressed to IDX's Company Evaluation Director, Futura Energi confirmed that PT Digital Futurama Global (DFG), which currently holds a 49.3% stake in the company, is in the midst of negotiations to divest its controlling shares to PT Aurora Dhana Nusantara (Ardhantara). If the deal proceeds, Ardhantara will become the new controlling shareholder, subject to the requirements of OJK Regulation No. 9/2018 on Public Company Takeovers.
The company explained that the proposed sale by DFG is driven by internal financial needs and strategic alignment with Ardhantara’s clean energy focus. Ardhantara is described as a holding company in the renewable energy sector. Through its subsidiary, PT Sejahtera Alam Energi (SAE), it holds a geothermal concession at Gunung Slamet in Central Java, with an estimated capacity of around 220 MW. SAE has already secured a Power Purchase Agreement (PPA) with PLN, Indonesia’s state electricity company.
Futura Energi noted that Ardhantara has no current affiliation with the company and there are no regulatory approvals required for the transaction at this stage. The company also confirmed that there are no plans for delisting, liquidation, or changing the company’s status to private if the transaction goes through.
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While negotiations are ongoing, the company has yet to receive detailed information on Ardhantara’s capital structure or beneficial ownership.
Mandatory tender offer
If the acquisition proceeds, Ardhantara or its designated party will be required to carry out a Mandatory Tender Offer (MTO) in accordance with OJK rules, offering to purchase remaining shares held by the public. The company stated that the timeline and detailed scheme for the MTO will be disclosed once the takeover is completed and after the OJK approves the public disclosure of the offer.
The current shareholder structure is as follows:
- PT Digital Futurama Global: 3.27 billion shares (49.33%)
- Vincent Le Kok Hui: 368.41 million shares (5.55%)
- PT Hexa Prima Nusantara: 40 shares
- Public Shareholders: 2.99 billion shares (45.12%)
- Total: 6.63 billion shares
The post-transaction shareholder composition has yet to be determined due to the ongoing negotiations.
The company also confirmed the resignation of Director Welly, ST, effective August 8, 2025, citing personal reasons. Welly’s term had only begun in February 2025. Despite the leadership change, the company assured IDX that there is no material impact on its operations, legal standing, or financial condition.
While there are currently no definitive corporate actions planned for 2025, Futura Energi acknowledged the possibility of future capital-raising initiatives, including a rights issue, private placement, or debt issuance, once discussions with the prospective controlling shareholder are finalized.
Futura Energi emphasized that the potential change in control could strengthen the company’s capital structure and accelerate its expansion in the renewable energy sector, aligning with national clean energy goals.
Editing by Reiner Simanjuntak