Indonesia's Epack Sentosaraya plans rights issue and share buyback
PT Megalestari Epack Sentosaraya Tbk (EPAC), an Indonesian flexible plastic packaging manufacturer, is preparing a rights issue of up to 2 billion new shares alongside a share buyback of up to Rp20 billion, covering as much as 10 percent of paid-in capital. Shareholders must approve both at an extraordinary general meeting scheduled for early November 2026, with rights-issue proceeds earmarked for capex, bank debt repayment and working capital. The announcement coincided with a 13.95 percent drop in EPAC shares to Rp37, valuing the company at Rp122.23 billion.
Why this mattersA dual capital raise and buyback signals the company is bolstering its balance sheet and liquidity to fund expansion while cutting bank debt.
- EPAC plans to issue up to 2 billion new shares via a rights offering.
- A share buyback of up to Rp20 billion is planned, covering up to 10 percent of paid-in capital.
- The buyback would run over up to 12 months once approved.
- An extraordinary shareholder meeting is scheduled for early November 2026 to approve both actions.
- Rights-issue proceeds are earmarked for capex, bank debt repayment and working capital.
- EPAC shares fell 13.95 percent to Rp37, giving a market capitalisation of Rp122.23 billion.
- Shares outstanding would rise from 3,303,400,000 to 5,303,400,000, a 60% increase, if the full 2 billion new shares are issued
- Paid-up capital would increase from Rp165.17bn to Rp265.17bn
- Public shareholding could fall from 36.94% to 23.01% if minority holders do not exercise their rights
- Controlling shareholder PT Triple Berkah Bersama's stake could fall to 24.19% or rise to 61.91% depending on rights exercise
- Rights issue (PMHMETD I) assumes 2,000,000,000 new shares at IDR 50 nominal value each
- Outstanding shares would rise from 3,303,400,000 to 5,303,400,000, paid-in capital from IDR 165.17 billion to IDR 265.17 billion
- Authorised capital remains at 6,800,000,000 shares (IDR 340 billion)
- If only Triple Berkah Bersama subscribes, its stake rises to 61.91% from 38.84%