TnP Law Firm Advised PT VKTR Teknologi Mobilitas Tbk (VKTR) on its IDR 3 Trillion Rights Issue
TnP Law Firm is pleased to have advised PT VKTR Teknologi Mobilitas Tbk (VKTR), a
TnP Law Firm is pleased to have advised PT VKTR Teknologi Mobilitas Tbk (VKTR), a subsidiary of Bakrie & Brothers (BNBR), in connection with its first rights issuance (Rights Issue).
Through the Rights Issue, VKTR is offering up to 15,000,000,000 new ordinary shares with a subscription price of IDR 200 per share, resulting in total proceeds of up to approximately IDR 3 trillion, before deducting transaction-related expenses.
The proceeds from the Rights Issue will primarily be utilized to support the expansion of VKTR’s commercial electric vehicle business. Approximately 66.86% of the net proceeds will be injected as capital into PT Sarana Ekomobilitas Indonesia (SEI), for funding the purchase of electric vehicles from VKTR, which is expected to take place during the period from 2026 to 2027. These electric vehicles range from electric buses, electric light duty trucks, electric heavy-duty trucks and electric forklifts to then lease to SEI’s customers.
The remaining proceeds will be allocated to support VKTR’s working capital requirements, including operational activities and the procurement of commercial electric vehicle inventory, including electric buses, electric trucks, electric transporters, and electric forklifts.
The Rights Issue represents an important step in VKTR’s strategy to strengthen its financial capacity, expand its commercial electric vehicle operations, and further develop an integrated commercial electric vehicle ecosystem in Indonesia.
The team was led by Partners, Rambun Tjajo and Ken Prasadtyo, with support from Associate Partner, Kevin Yehezkiel, Senior Associate, M Yusuf Kenny Adiputra, and Associates, Bianka Renzanova Kusuma, Kresnaya Shasty Reskiandira, and Nicholas Firman Rafael Napitupulu.
We are proud to have supported VKTR in this strategic capital markets transaction, which aims to strengthen VKTR’s capital structure and accelerate the growth of its commercial electric vehicle business in Indonesia.
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