Palm oil company PT Teladan Prima Agro (TLDN), owned by entrepreneur Wishnu Wardhana, has officially acquired 99.99 percent of the shares in PT Cipta Davia Mandiri (CDM) from PT REA Kaltim Plantations for a total value of Rp136.32 billion (US$8.3 million).
According to a disclosure filed with the Indonesia Stock Exchange (IDX) on Monday, June 16, 2025 the transaction involved the purchase of 18.15 million shares of CDM. The announcement was made via official letter No. 190/TPA-Corsec/VI/2025.
The acquisition was formalized through Deed of Share Acquisition No. 72 dated June 13, 2025, notarized by Jose Dima Satria in South Jakarta, as confirmed by Arya Wibisana, Corporate Secretary of TLDN.
Funding for the transaction came from proceeds of Teladan Prima's initial public offering (IPO), held from April 4–8, 2022. Arya stated that the acquisition is in line with the company's IPO prospectus, which outlined plans to expand its palm oil portfolio. He also confirmed that TLDN still has remaining IPO funds, which will be allocated for further acquisitions in the palm oil sector.
“The acquisition of CDM shares aims to expand TLDN's asset base and increase the company’s production capacity,” Arya said.
He added that the move is part of the company’s long-term growth strategy and was executed in full compliance with all applicable laws and regulations. All transactional documents between TLDN and REA Kaltim Plantations have been completed.
Arya also clarified that there is no affiliation or conflict of interest between TLDN and REA Kaltim, as defined by prevailing capital market regulations.
During its 2022 IPO, Teladan Prima Agro raised Rp300.35 billion by offering 517.86 million shares at a price of Rp580 per share. The company focuses on sustainable oil palm plantation and processing, as well as renewable energy development. Established in 2004, Teladan Prima currently oversees eight subsidiaries in the palm oil industry and one renewable energy subsidiary.
The company’s controlling shareholder is PT Teladan Resources, holding 59.88 percent of the shares, while Wiwoho Basuki Tjokronegoro owns 0.17 percent, and Wishnu Wardhana, who serves as CEO, holds a 16.22 percent stake.
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