JAKARTA — PACK (Abadi Nusantara Hijau Investama) is poised for a transformative leap, announcing a colossal rights issue aiming to raise up to US$463 million (approximately Rp8.2 trillion). This ambitious capital raise is earmarked primarily for a strategic pivot into Indonesia’s burgeoning nickel sector, a critical component in the global electric vehicle supply chain. The move signals PACK’s intent to become a significant player in the battery metals arena, potentially reshaping its long-term growth trajectory.

PACK’s Bold Nickel Foray: Acquiring Key Assets

PACK’s expansion strategy hinges on two significant acquisitions that will plant its flag firmly in the nickel mining and holding landscape. These deals, totaling approximately US$403 million, are designed to establish a robust foundation in one of the world’s most sought-after commodities.

Unpacking the Acquisitions: Strategic Stakes in Nickel

• PT Bukit Makmur Istindo Nikeltama: PACK plans to acquire 100% of this nickel mining company for US$79 million (roughly Rp1.4 trillion) from an unaffiliated party. This acquisition brings a substantial concession area of 4,778 hectares in Morowali, Central Sulawesi — a region synonymous with Indonesia’s nickel boom. Securing direct mining assets offers PACK immediate access to valuable reserves.
• Denway Development Ltd.: A pivotal move, PACK will acquire 100% of this Hong Kong-based holding company for US$324 million (approximately Rp5.7 trillion) from an affiliated entity. Denway Development Ltd. boasts a portfolio of nickel mines and smelter operations across Indonesia, including PT Karayatama Konawe Utara, PT Konutara Sejati, and PT Hanking Makmur Nickelsment. This acquisition provides a broader footprint, encompassing both upstream mining and crucial downstream processing capabilities.

These targeted acquisitions represent more than just asset accumulation; they are a calculated maneuver to build a vertically integrated presence in the Indonesian nickel ecosystem, from raw material extraction to potential processing.

Fueling Growth: The Rights Issue Explained

To finance this aggressive expansion, PACK proposes to issue up to 100 billion new shares through a rights issue. The projected proceeds of US$463 million will serve multiple critical purposes beyond the nickel acquisitions.

Allocation of Capital: Beyond Acquisitions

While the primary focus is on securing nickel assets, the rights issue proceeds will also be allocated to bolster PACK’s financial health and operational capacity:

• Debt Repayment: A portion of the funds will be used to reduce existing liabilities, strengthening PACK’s balance sheet.
• Working Capital: Essential capital will be injected to support day-to-day operations and fuel the ramp-up of the newly acquired nickel ventures.

Crucially, PT Eco Energi Perkasa, PACK’s controlling shareholder, has pledged its unwavering support by acting as a standby buyer, committing up to US$418 million (around Rp7.4 trillion) in the rights issue. This strong endorsement from the parent company underscores confidence in PACK’s strategic direction and mitigates subscription risk.

Broadening Horizons: New Business Verticals

Beyond the direct engagement in nickel mining and processing, PACK is strategically expanding its business activities to complement its core transformation. The company plans to diversify into:

• Wholesale Trade of Metal Ores and Concentrates: This new segment will allow PACK to capitalize on broader market opportunities for raw and semi-processed metals, enhancing revenue streams and market influence.
• Management Consulting Activities: Entering the consulting space could leverage PACK’s evolving expertise in the resources sector, potentially offering advisory services and creating additional value.

These new verticals are not just tangential additions but integral parts of PACK’s grander vision to become a comprehensive player in the resource sector, with nickel at its heart.

Investor Outlook: What’s Next for PACK?

The proposed corporate actions — the rights issue and nickel acquisitions — represent a definitive strategic pivot for PACK. Investors should mark November 30, 2026, as a key date, as all these pivotal plans will be deliberated and voted upon during an Extraordinary General Meeting of Shareholders (EGM).

The success of this rights issue and the seamless integration of the new nickel assets will be critical determinants of PACK’s future valuation and market position. As the world accelerates its transition to green energy, companies that secure a robust foothold in battery metals like nickel are often positioned for exponential growth. PACK’s bold move could be a game-changer, but execution will be paramount.

For further details on these corporate actions, interested parties can refer to the official announcement: PACK’s Corporate Action Filing.