Indonesian investment firm PT Abadi Nusantara Hijau Investama Tbk (PACK) is preparing a major capital-raising initiative. According to an IDNFinancials report published on October 23, 2026, the company plans to raise up to IDR 8.2 trillion through a rights offering to back its corporate expansion strategy.
Under the proposed structure, the company intends to issue up to 100 billion new shares. The execution of the proposed PACK rights issue Indonesia plan remains subject to obtaining an effective statement from Indonesia's Financial Services Authority (OJK) as well as securing formal approval from shareholders.
Capital Allocation: Debt Repayment and Corporate Expansion
The company plans to allocate proceeds generated from the rights offering across several corporate priorities. A primary component of the capital deployment will focus on acquiring Denway Development Limited (DDL), while additional funds will be directed toward loan repayments and general working capital needs for the company and its operating subsidiaries.
As part of its broader acquisition drive, PACK intends to acquire all shares of Denway Development Limited for approximately USD 324 million, representing an estimated transaction value of IDR 5.74 trillion.
Nickel Mining Acquisition in Central Sulawesi
Alongside the transaction involving Denway Development Limited, PACK has outlined plans to acquire complete ownership of PT Bukit Makmur Istindo Nikeltama (Bumanik). The proposed acquisition of all Bumanik shares carries a value of approximately USD 79 million, equivalent to around IDR 1.40 trillion.
Bumanik controls and operates a nickel mining concession spanning 4,778 hectares located in Morowali, Central Sulawesi, positioning the asset as a focal point in PACK's operational portfolio.
Standby Buyer and Potential Shareholder Dilution
PT Eco Energi Perkasa, an entity controlled by CNGR Advanced Material, has committed to supporting the transaction as a standby buyer. PT Eco Energi Perkasa has pledged to provide up to USD 418 million in the rights offering.
Existing shareholders who choose not to exercise their rights in the corporate action face substantial dilution. According to the company's disclosures, non-participating investors, including prominent shareholder Haji Isam, could see their ownership stakes diluted by up to 74.6%.
Regulatory Approval and Upcoming Shareholder Meeting
The transactions and issuance plans outlined by PT Abadi Nusantara Hijau Investama Tbk remain proposed corporate actions rather than completed deals. Formal realization will depend on regulatory clearances from the OJK and formal authorization by the company's equity holders.
To advance the initiative, PACK has scheduled an extraordinary general meeting of shareholders for November 30, 2026, where investors will review and vote on the related proposals.
For more details, refer to the original coverage by IDNFinancials.