APAC Realty Limited has announced its intention to acquire the remaining shares in PT ERA Graharealty Tbk (ERA Indonesia) as part of a plan to delist the company from the Indonesia Stock Exchange. Currently holding 90.6% of ERA Indonesia’s shares, APAC Realty aims to purchase the remaining 9.4% through a voluntary tender offer at IDR250 per share, equivalent to approximately S$0.02. The total cost of acquiring these shares is expected to be around IDR22.33b, or S$1.6m, funded through internal resources.
The acquisition and subsequent delisting are designed to enhance management flexibility, reduce compliance costs, and improve operational efficiency. ERA Indonesia, which no longer requires capital market funding, has no future plans to raise funds from these markets.
ERA Indonesia, incorporated in 1991 and listed in 2021, holds the ERA country master franchise for Indonesia. It operates 103 broker offices and employs 4,576 agents across major Indonesian cities. The acquisition is subject to approval from independent shareholders and relevant authorities, with completion anticipated by March 2027.
APAC Realty’s Chief Financial Officer, Poh Chee Yong, confirmed that the acquisition would not materially impact the company’s financial metrics for the year ending 31 December 2026. Further announcements will be made as the acquisition progresses.
