History

History

PT Pantai Indah Kapuk Dua, Tbk

PT Pantai Indah Kapuk Dua Tbk (“PANI”), formerly known as PT Pratama Abadi Nusa Industri Tbk, was established as set forth in the Deed of Establishment of PT Pratama Abadi Nusa Industri No. 4 dated March 4, 1999, made before Drs. Gde Ngurah Putra, S.H., Notary in Jakarta. The Deed of Establishment was approved by the Minister of Justice of the Republic of Indonesia pursuant to Decree No. C-11863 HT.01.01.TH.99 dated July 2, 1999, and subsequently registered in the Company Register and announced in the State Gazette of the Republic of Indonesia.

PANI commenced its commercial operations on March 1, 2001, initially engaging in the manufacturing of can packaging products. In December 2017, PANI expanded its business portfolio through the acquisition of PT Windublambangan Sejati, a company engaged in fishery product processing and freezing and cold-storage services.

On September 18, 2018, PANI became a publicly listed company through the listing of its shares on the Indonesia Stock Exchange under the ticker code “PANI”. Subsequently, in 2021, PT Multi Artha Pratama (“MAP”) acquired a controlling interest in PANI, marking a significant milestone in the Company's transformation and diversification into the property sector.

Following the change in controlling shareholder, PANI shifted its principal business focus toward property development and became part of the broader development of Pantai Indah Kapuk Dua (“PIK2”), in collaboration with the Agung Sedayu Group and Salim Group. The Company subsequently undertook a series of strategic corporate actions to strengthen its capital structure and support the expansion of its property development business.

In 2022, PANI completed its first Pre-emptive Rights Issue (PMHMETD I), issuing 13.12 billion new shares at an offering price of Rp500 per share. The transaction strengthened PANI's capital base and provided funding to support its transformation and expansion in the property sector.

In 2023, PANI continued its transformation through the expansion of its subsidiary structure and the completion of its second Pre-emptive Rights Issue (PMHMETD II), issuing approximately 2.10 billion new shares at an offering price of Rp5,000 per share and raising approximately Rp10.49 trillion. The proceeds were primarily allocated to support the Company's expansion and investments in its subsidiaries and the continued development of PIK2.

Throughout 2024 and 2025, PANI continued to strengthen its capital structure and expand its land bank and property development platform through strategic corporate actions, including Non-Pre-emptive Rights Issues (PMTHMETD) and its third Pre-emptive Rights Issue (PMHMETD III). These initiatives supported the Company's expansion and increased its strategic ownership in PT Bangun Kosambi Sukses Tbk (“CBDK”), a key subsidiary involved in the development of PIK2.

In 2025, CBDK successfully completed its Initial Public Offering (IPO) on the Indonesia Stock Exchange, further strengthening the PIK2 development ecosystem and supporting the development of key projects, including the Nusantara International Convention Exhibition (NICE), a large-scale Meetings, Incentives, Conferences and Exhibitions (MICE) facility. In 2026, PANI continued to strengthen its capital structure and support the expansion of its subsidiaries through further corporate actions, including PMTHMETD IV. The Company remains focused on the development of PIK2 through its integrated property platform and portfolio of residential, commercial, hospitality, MICE, and other supporting developments.

Today, PANI has evolved from its origins as a manufacturing company into a property-focused company with a significant role in the development of PIK2. Through its subsidiaries, strategic investments, substantial land bank, and integrated development platform, PANI continues to pursue the development of PIK2 as a modern and integrated township.