Rights Issue Overview
PT Anabatic Technologies Tbk has finalized a rights issue of 578.84 million new shares, marking a significant step in the IT holding company's efforts to strengthen its financial position and reduce debt levels.
The company announced on Tuesday that the capital raising was designed to enhance its capital structure and improve financial flexibility. Founded in 2002 and listed on the Indonesia Stock Exchange in July 2015, Anabatic Technologies has grown into a diversified IT services provider operating across multiple business segments.
Debt Settlement Strategy
The rights issue proceeds of IDR 280.37 billion were combined with a new IDR 150 billion loan facility from United Overseas Bank and IDR 129.62 billion from internal cash reserves to settle convertible bond obligations totaling approximately IDR 560 billion. Convertible bonds are hybrid securities that combine debt and equity features, giving holders the right to convert bonds into company shares or receive cash of equal value.
United Overseas Bank, the Singapore-headquartered regional lender providing the loan facility, operates through banking subsidiaries across China, Indonesia, Malaysia and Thailand, with a global network of more than 500 offices spanning 19 countries and territories in Asia Pacific, Europe and North America.
The debt settlement is expected to significantly improve the company's leverage position, with management projecting a reduction in the gearing ratio from 2.8 times as of 30 June 2026 to 1.7 times following the transaction. A gearing ratio measures financial leverage by comparing debt to equity, with ratios above 50% generally considered high and indicative of heavy reliance on debt financing, while ratios below 25% are viewed as financially conservative.
Cost Savings and Strategic Benefits
Management emphasized that settling the convertible bond obligations would reduce interest-bearing debt and lower future financial expenses. The resulting interest cost savings will be retained within the company to support business development, operational requirements and strategic growth initiatives.
A stronger balance sheet and reduced financial expenses are anticipated to provide greater flexibility in managing operations and executing the company's long-term growth strategy.
Business Operations and Market Position
Anabatic Technologies operates through three main business lines: Mission Critical Digital Solutions specializing in the financial industry through PT Anabatic Digital Raya, Digitally Enriched Outsourcing Services provided by PT Karyaputra Suryagemilang, and Cloud and Digital Platform Solutions delivered by PT Computrade Technology International.
The company is positioning itself to capitalize on Indonesia's expanding technology sector, which represents the largest digital economy in Southeast Asia. The country's ICT sector was valued at USD 57.71 billion in 2026 and is projected to grow at a compound annual growth rate of 14.78% to reach USD 114.96 billion by 2031. Within this broader market, Indonesia's IT services segment alone was worth USD 5.41 billion in 2026 and is forecast to expand at an 11.97% CAGR to USD 9.52 billion by 2031.
Growth Strategy and Future Plans
Beyond strengthening its capital structure, Anabatic Technologies plans to continue developing its core information technology business by enhancing internal capabilities, expanding its portfolio of technology products and solutions, and increasing market reach to create integrated growth opportunities.
The company remains open to inorganic expansion through acquisitions or other strategic initiatives. Management stated that each acquisition opportunity would be evaluated based on its ability to strengthen capabilities, expand product and solution portfolios, provide access to new markets or customers, and create synergies with existing operations.
Management emphasized that all strategic initiatives would adhere to prudent capital allocation principles. With the strengthened capital structure and focus on core IT business development, the company aims to improve financial flexibility, expand business opportunities and deliver sustainable long-term growth for stakeholders.
Market Performance
During the first trading session on Tuesday, Anabatic Technologies shares edged up 0.47% to IDR 432 per share. However, the stock has declined 6.90% over the past month and fallen 33.41% year to date in 2026.
The company had a market capitalization of approximately IDR 1.16 trillion as of May 2026, with 2.32 billion shares outstanding before the rights issue. Major shareholder TIS Inc holds 37.30% of the company, while director Lie David Limina owns 0.57%.
