KGI Capital Asia Limited agreed to acquire 99% stake in PT Hasta Dana Sekuritas Indonesia from PT HD Capital Tbk (JKSE:HADE) for approximately IDR 82 billion on December 28, 2015. Under the terms of the deal, 0.05 million shares will be purchased. The purchase price will be adjusted on the basis of the net asset value of PT Hasta Dana Sekuritas Indonesia after the closing date. The transaction is subject to the approval of the relevant authorities and was approved by the Board of Directors of KGI Capital Asia Ltd. On June 30, 2016, the shareholders meeting will be held to seek approval. The Financial Services Authority has approved the transaction on April 29, 2016 and the shareholders of HD Capital Tbk have approved the transaction on June 30, 2016. KAP Arman Hendiyanto dan Rekan and KAP Tanubrata Sutanto Fahmi & Rekan acted as accountants and KJPP Iskandar dan Rekan acted as independent appraiser for PT HD Capital. KGI Capital Asia Limited completed the acquisition of 99% stake in PT Hasta Dana Sekuritas Indonesia from PT HD Capital Tbk (JKSE:HADE) on August 31, 2016.