VKTR Teknologi Mobilitas seeks Rp2 trillion in funding from Danantara

PT VKTR Teknologi Mobilitas Tbk (VKTR) is pursuing potential funding of up to Rp2 trillion through an indicative non-binding term sheet signed with PT Danantara Investment Management (DIM) and/or its affiliates. PT Bakrie & Brothers Tbk (BNBR), the parent company of VKTR, will act as the guarantor for this arrangement.

The funding, which includes stock conversion options, is intended to support the expansion of VKTR’s electric vehicle business, specifically focusing on mobility-as-a-service (MaaS). Planned uses for the capital include the procurement of electric buses and trucks, as well as other agreed-upon business developments in the electric vehicle sector.

Management noted that the current agreement is non-binding and remains subject to the signing of definitive documents. The company stated that the plan is expected to support its operations in battery-based electric vehicle trading, maintenance services, and component manufacturing without causing material negative impacts on its current legal or financial standing.