Jakarta - Mahogany Global Investment Pte Ltd plans to make a mandatory tender offer of 510.88 million shares, or equivalent to 57.41% of the share ownership of PT Wahana Interfood Nusantara Tbk (COCO).

According to the company brief prospectus issued on Tuesday (25/1), the mandatory tender offer price is Rp319 per share, bringing the total value of the tender offer to Rp162.97 billion.

The mandatory tender offer period will be from January 26-February 24, 2022.

Previously, Mahogany had implemented preemptive rights issued by COCO, with the company's share ownership being 273.04 million shares, or 30.68% of the total issued and fully paid shares in the company as of December 1, 2021.

Thus, there was a change of control in COCO from PT Inter Jaya Corpora to Mahogany.

On December 28, 2021, Mahogany also purchased the company's shares, so Mahogany's portion became 330.71 million shares or 37.16%.

The new controller