Kristo Molina

Professional History

• 2025 – Now
  ALTA Advocates as Partner
• 2016 – 2025
  Witara Cakra Advocates in association with White & Case LLP as Managing Partner
• 2000 – 2016
  Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills  as Partner
• 1999 – 2000
  Hutabarat Halim & Rekan

Bars and Courts

• PERADI (Indonesian Advocates Association)
• Indonesian Financial Services Authority (OJK)

Education

Bachelor of Law, University of Indonesia

Awards & Recognition

• Leading Individual: Capital Markets – Indonesia, Legal 500 Asia-Pacific 2022-2024
• Band 2: Capital Markets – Indonesia, Chambers Asia-Pacific 2022-2025
• Highly Regarded: Capital Markets and M&A – Indonesia, IFLR1000 2021-2024

Experiences

Equity Capital Markets (IPO, rights Issue and re-IPO)

• The international and domestic joint global coordinators and in the approximately IDR 95.92 trillion (US$6.7 billion) rights issue by PT Bank Rakyat Indonesia (Persero) Tbk.
• The joint global coordinators, international selling agents and joint lead managing underwriters in the IPO of PT Bukalapak.com Tbk on the IDX, which included a Rule 144A/Regulation S offshore tranche. The transaction raised approximately US$1.5 billion.
• PT Avia Avian Tbk and certain selling shareholders, in the IPO of Avian on the IDX, which includes a Rule 144A/Regulation S offshore tranche. The transaction raised approximately IDR11 trillion (US$771 million).
• PT Trimegah Bangun Persada Tbk. on its IPO on the Indonesian Stock Exchange (IDX), which included a Rule 144A/3(c)(7) and Regulation S offshore tranche. The transaction raised approximately IDR 10 trillion (US$672 million).
• Deutsche Bank and UBS as Joint Global Coordinators and Indopremier and Credit Suisse as Joint Bookrunners in the secondary offering of 648,508,000 ordinary shares in PT MAP Aktif Adiperkasa Tbk, a company listed on the IDX, with an offer price of IDR6,500 per share (total offering size of IDR4.15 trillion or approximately US$291 million), by Montage Company Limited.
• Nomura Singapore Limited and CLSA Limited as international selling agents, and PT CLSA Sekuritas Indonesia and PT Mandiri Sekuritas as lead domestic underwriters, in the IPO of PT Cisarua Mountain Dairy Tbk (Cimory) on the IDX, which includes a Regulation S offshore tranche. The transaction raised approximately IDR3.666 trillion (US$256 million).
• Credit Suisse (Singapore) Limited as placing agent in the Regulation S/Rule 144A private placement of shares of IDX-listed PT Matahari Department Store Tbk, with an offering size valued at approximately IDR3 trillion (US$227 million). The selling shareholders included Conrex Limited Asia Color Company Limited and Meadow Asia Company Limited.
• The international and domestic joint global coordinators in the IDR 2.79 trillion (approx. US$194 million) IPO of PT Archi Indonesia Tbk, an Indonesian gold mining company, including a Rule 144A/Regulation S offshore tranche.
• JP Morgan and UBS as joint global coordinators and international selling agents as well as the joint lead domestic underwriters on the IPO of Cinema XXI on the Indonesian Stock Exchange (IDX), which raised approximately IDR 2.25 trillion (US$150 million) and represented one of the largest IPOs in 2023 from the consumer sector in Indonesia.
• Citigroup Global Markets Limited, Credit Suisse (Singapore) Limited, DBS Bank Ltd. and PT Mandiri Sekuritas as the Joint Global Coordinators in a IDR1.3 trillion Regulation S IPO of PT Medikaloka Hermina Tbk, a leading Indonesian hospital operator, for its shares to be on the IDX.
• Nomura as International Selling Agent and Sinarmas Sekuritas as Lead Domestic Underwriter in the initial public offering of 831,314,400 primary shares in PT Uni-Charm Indonesia Tbk, and its listing on the Indonesian Stock Exchange, which included an international offering in reliance on Regulation S (total offering size of approximately IDR1.247 billion).
• PT Cemindo Gemilang Tbk, a leading Indonesian cement company, in relation to its IDR1.168 trillion (US$82.7 million) Indonesian domestic initial public offering on the IDX.
• International Finance Corporation (IFC) on its US$11 million investment into Indonesia’s largest industrial gas company PT Aneka Gas Industri Tbk, in conjunction with the company’s IPO on the IDX.

Debt Capital Markets 

• International banks including Morgan Stanley Asia (Singapore) Pte, Standard Chartered Bank (Singapore) Limited, Société Générale, Credit Suisse (Singapore) Limited, CLSA Limited, Australia and New Zealand Banking Group Limited, DBS Bank Ltd., ING Bank N.V., JP Morgan, Mandiri Securities Pte Ltd in various issuance of Senior Notes under Regulation S and 144A by subsidiaries of PT Medco Energy Internasional Tbk through-out 2017 – 2023.
• JP Morgan, Bank of America Merrill Lynch and Morgan Stanley as Joint Bookrunners in PT Bukit Makmur Mandiri Utama’s (BUMA) Rule 144A and Regulation S offering of US$350 million 7.75% Senior Notes due 2022.
• Credit Suisse, DBS and Standard Chartered as domestic counsel to Joint Bookrunners in a Regulation S bond issuance of US$300 million 7.125% Senior Notes due 2022 by PT ABM Investama Tbk.
• BNP Paribas, Citigroup Global Markets Singapore Pte. Ltd. and CIMB Bank (L) Limited, as domestic counsel to the Initial Purchasers, in connection with a Regulation S offering of US$300 million 7.750% Senior Notes due 2023 by a wholly owned subsidiary of PT Sawit Sumbermas Sarana Tbk, an Indonesian oil palm plantation company listed on the IDX. The Notes were guaranteed by PT Sawit Sumbermas Sarana Tbk and PT Citra Borneo Indah, as parent guarantors, and certain of their subsidiaries.
• BNP Paribas, CIMB Bank Berhad, Singapore Branch, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch as joint lead managers in connection with LMIRT Capital Pte. Ltd.’s Regulation S offering of US$250 million 7.25% Senior Guaranteed Notes due 2024. LMIRT Capital Pte. Ltd. is a subsidiary of Lippo Malls Indonesia Retail Trust (“LMIRT”). The Notes are guaranteed by Perpetual (Asia) Limited, as the trustee of LMIRT.
• CLSA Limited, Credit Suisse (Singapore) Limited as Joint Bookrunners in connection with a Regulation S offering of US$150 million 9.00% Senior Notes due 2023 by Golden Energy and Resources Limited.
• International Finance Corporation (IFC) as the standby purchaser and subscriber in the offering of 600 million convertible bonds (with an aggregate principal amount of IDR 720 billion or approximately USD 50 million) through a limited public rights offering by PT Adi Sarana Armada Tbk., an Indonesia listed company in the transportation sector.

Mergers & Acquisitions

• Bangkok Bank Public Company Limited on its US$2.3 billion acquisition of a 89.12% shareholding in leading In-donesian bank PT Bank Permata from Standard Chartered Bank and PT Astra International Tbk – the biggest M&A deal in Indonesia signed in 2019 by deal value and to close in 2020 to date, and the first acquisition of a publicly listed bank under Indonesia’s recently revised investment laws for Indonesian banks.
• Bangkok Bank Public Company Limited on the integration of its Indonesian branch business (Bangkok Bank In-donesia) with PT Bank Permata Tbk.
• Ooredoo Group, a leading international telecommunications company, on the US$6 billion merger of PT Indosat Tbk (Indosat Ooredoo), an Indonesian subsidiary of Ooredoo Group, with PT Hutchison 3 Indonesia (H3I), an Indonesian subsidiary of CK Hutchison. As of YTD 2021, this transaction is the: (1) largest IDX M&A deal in Indonesia, (2) second-largest M&A deal in Indonesia, and (3) second-largest telecommunications deal in Southeast Asia.
• Growtheum Capital Partners, a Singapore headquartered private equity firm in its investment in PT ABC Kogen Dairy, a vertically integrated dairy manufacturer producing yogurt and milk products under the brand “KIN” which also operates as one of the largest and the only A2-cow dairy farm in Indonesia.
• OrbusNeich Medical Group Holdings Limited, a Hong Kong-based medical device manufacturer listed on the Hong Kong stock exchange, in its acquisition of a majority stake in PT Revass Utama Medika, an Indonesian medical device distributor.
• A global private equity firm on its acquisition of shares in PT Mulia Boga Raya Tbk., one of the largest cheese and cheese products manufacturing companies in Indonesia.
• A Jakarta-based investment firm focusing on mid-market private equity and private credit opportunities in Indonesia and Southeast Asia, on its acquisition of high quality K-12 private schools in a number of cities in Indonesia.
• The shareholders of PT Garudafood Putra Putri Jaya Tbk., one of the largest food and beverage companies in Indonesia, on their sale of shares to Hormel Foods, a global U.S.-based food manufacturing company.
• Victory Park Advisors, LLC and its special purpose acquisition company VPC Impact Acquisition Holdings II, on its de-SPAC business combination with FinAccel Pte. Ltd., a fintech company providing instant credit financing and personal loan services to consumers under the Kredivo and KrediFazz platforms in Indonesia.
• The receivers in the bankruptcy of CG Power System Belgium N.V., a global engineering company in connection with the auction sale of its 95% stake in its subsidiary, PT CG Power Systems Indonesia, a leading power transformer and electric components manufacturer in Indonesia.