Daily Brief Financials: Mandala Multifinance, Molten Ventures and more

• Waaay back in June 2023, MUFG (8306 JP) and 92.7%-held Adira Dinamika (ADMF IJ) entered into SPAs with key shareholders to acquire an 80.6% stake in Mandala Multifinance (MFIN IJ).
• MFIN’s shareholders overwhelmingly approved the change of control at the 13th Feb EGM. OJK signing off was the next hurdle.
• The Tender Offer is now open, at the (expected) price of  IDR 3,297/share. The close of the Offer is the 21st August, with payment on the 28th August. 

Molten Ventures has recently completed the exits from Perkbox, Endomag and Graphcore. This translates into more than £70m realisation proceeds, which means Molten is on track to reach the £100m that management expects for FY25. As a result, Molten has announced a £10m buyback programme (starting on 26 July), in line with its recently updated capital allocation policy of earmarking at least 10% of realisation proceeds for share repurchases. Molten has also agreed a new £180m debt facility that replaces the previous £150m facility maturing in September 2024.