Business · Markets · 1 hr ago
Astra plans to buy more Astra Otoparts shares as PGEO completes five wells
Astra International plans a voluntary offer to buy up to 238.44 million shares in Astra Otoparts, equal to 4.95% of the company.
The offer will run from 13 October to 11 November 2026, at Rp3,600 per share, with a maximum value of Rp858.39 billion.
Astra says the move is intended to strengthen its ownership of its automotive-components business.
Separately, Pertamina Geothermal Energy has completed five wells across three operating areas in Indonesia this year.
One is an exploration well at Gunung Tiga, and four are production-support wells at Lumut Balai, Ulubelu and Lahendong.
Drilling at Lumut Balai supports development of a planned 55-megawatt unit.
The company manages 15 geothermal work areas with 1,932 megawatts of installed capacity, about 70% of Indonesia’s total geothermal capacity.
Astra International plans to buy up to 238.44 million shares in Astra Otoparts through a voluntary tender offer.
The offer is priced at Rp3,600 per share and runs from 13 October to 11 November 2026.
Pertamina Geothermal Energy says it completed drilling five geothermal wells across three operating areas in 2026.
The drilling included one exploration well and four production-support wells.
- Who
- Astra International and Pertamina Geothermal Energy.
- What
- Astra International plans a tender offer for Astra Otoparts shares, while Pertamina Geothermal Energy reports completing five geothermal wells.
- When
- The offer runs from 13 October to 11 November 2026; the well drilling was completed during 2026.
- Where
- The wells were drilled in Gunung Tiga, Lumut Balai, Ulubelu and Lahendong.
- Why
- Astra aims to strengthen its ownership in its automotive components business. The wells support geothermal operations, including development of Lumut Balai Unit 3.
This story does not have two clearly opposing sides.
Pertamina Geothermal Energy completed drilling the GTG-B.1 exploration well at Gunung Tiga.
Astra International's voluntary tender offer for Astra Otoparts shares began.
The voluntary tender offer is scheduled to end.
- Maximum shares sought
- 238.44 million Astra Otoparts shares, or 4.95% of paid-up capital
- Offer price
- Rp3,600 per share
- Maximum transaction value
- Rp858.39 billion
- Geothermal wells completed
- Five across three operating areas in 2026
- Lumut Balai Unit 3
- 55 MW capacity
Sources
Related news
Rupiah weakens to 17,920 per US dollar at Tuesday's open
Pertamina Adjusts Fuel Supplies After Pertalite Queues in Bondowoso
Rupiah weakens to 17,948 per US dollar in Tuesday morning trading
GoTo shareholders to consider capital reduction and deputy CEO’s resignation
Antam 1-gram gold price falls Rp20,000 to Rp2.574 million
Indonesia’s Jakarta Composite Index falls below 6,000
Indonesia’s Jakarta Composite Index falls 0.85% in early trading
PGUN Says It Was Not Involved in Share Pledges by Three Major Shareholders
Village cooperative helps Pasuruan mango pickle seller double sales
A small group holds 95.58% of Mitratel shares, exchange says
Pertamina Links Long Fuel Queues in Jember to Delivery Schedule Changes
