Indonesia's PT Bakrie Sumatera Plantations and PT Singaraja Putra dilute shares but retain control

PT Bakrie Sumatera Plantations Tbk (UNSP) carried out a private placement that issued 14.5 billion new B‑class shares, diluting PT Bakrie Capital Indonesia’s (BCI) stake from 17.82% to about 4.21%. Despite the dilution, control remains with BCI, as Poseidon Corporate Services Limited, the largest shareholder with 55.64%, pledged not to assume control.

In a separate transaction, investor Happy Hapsoro Sukmonohadi bought 3.45 million shares of PT Singaraja Putra Tbk (SINI) for roughly IDR 17.26 billion. Although his absolute shareholding increased, the rights issue enlarged the total share count, causing his voting percentage to fall from 9% to 3.89%. Hapsoro retains status as a controlling shareholder and reaffirmed his commitment to the company’s long‑term prospects.