Ladangbaja Unveils Future Strategy Post NEV Stored Energy Takeover
Jakarta. Shares of steel company Ladangbaja Murni (LABA) surged by 260 percent over the past month following its acquisition announcement by Chinese companies, NEV Stored Energy (NSE), and Longping Investasi Indonesia on May 2.
In response to this rising share price, the Indonesia Stock Exchange (IDX) suspended trading of LABA shares on May 14, awaiting further announcements. Before the suspension, LABA shares had risen by 31.39 percent to Rp 180.
Ladangbaja Murni conducted an online public meeting on May 15 to discuss its performance, the recent surge in share price, and future plans with lithium battery company NSE, the new major controlling shareholder.
In its latest statement, Ladangbaja disclosed the current main shareholders: Adyatama Global Investama, holding 480 million shares (47.46 percent), and Alfa Omega Investindo, holding 320 million shares (31.64 percent).
"After the acquisition, the new ownership structure will consist of NEV Stored Energy (NSE) holding 560 million shares (55.37 percent) and Longping Investasi Indonesia holding 240 million shares (23.73 percent),” stated LABA’s management on Thursday.
The total acquisition value of Ladangbaja shares has not been disclosed yet.
Ladangbaja Murni is currently engaged in the distribution of steel products and molds. NSE, the new major shareholder, aims to play a significant role in sustainable energy, particularly focusing on lithium battery technology.
Following the acquisition, NSE plans to align Ladangbaja's business with its expansion plans, which include supporting Indonesia’s electric vehicle industry and collaborating with leading lithium battery manufacturers in China.
The collaboration is estimated to involve a US$ 3 million investment, with an initial production capacity of 1 GWh. NSE also intends to involve LABA in managing lithium battery applications and battery exchange networks. The new products are expected to meet the demand in Indonesia and neighboring countries.
“These plans are subject to obtaining the necessary approvals and complying with the law,” explained Ladangbaja's management.
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