VKTR Teknologi Mobilitas to launch Rp3 trillion rights issue

PT VKTR Teknologi Mobilitas Tbk (VKTR), an electric vehicle manufacturer under the Bakrie Group, has received effective approval from the Financial Services Authority (OJK) to conduct a rights issue. The company aims to raise up to Rp3 trillion by offering up to 15 billion new shares at an execution price of Rp200 per share.

Existing shareholders recorded on October 8, 2026, will be entitled to 12 preemptive rights for every 35 shares held. Shareholders who do not participate in the rights issue face a potential dilution of up to 25.53% of their ownership.

PT Bakrie & Brothers Tbk (BNBR), the majority shareholder, has stated it will not exercise its rights. Instead, BNBR will transfer its rights to PT Bakrie Capital Indonesia (BCI), which intends to absorb approximately 3.66 billion shares valued at roughly Rp732.12 billion. Additionally, BCI and PT Biofuel Indo Sumatra (BIS) will act as standby buyers to absorb any remaining shares, with a combined commitment of up to 11.33 billion shares worth approximately Rp2.27 trillion.

VKTR CEO A. Ardiansyah Bakrie stated that the capital increase is intended to strengthen the company's business foundation for commercial electric vehicles in Indonesia, supporting working capital and increasing capacity to provide vehicle solutions and accelerate electric vehicle adoption.