PROFILE

Grafita is an Associate at Makes & Partners Law Firm, where she actively engages in capital markets, mergers and acquisitions (M&A) and general corporate transactions, with a particular sector focus on real estate and property, as well as telecommunications and digital infrastructure.

Her work spans equity and debt capital markets transactions as well as complex M&A matters, positioning her at the intersection of public company transactions, regulatory compliance, and acquisition execution. She began her career with extensive involvement in rigorous capital markets transactions, including Initial Public Offerings (IPOs), rights issues, and debt offerings such as bonds and other securities. Through this experience, Grafita has developed a deep and practical understanding of Indonesian capital markets regulations, disclosure standards, and the execution mechanics of complex corporate actions involving publicly listed companies.

Building on this foundation, Grafita is also highly experienced in M&A transactions, particularly those undertaken alongside or following capital markets transactions. Her M&A practice is distinguished by a strong emphasis on complex legal due diligence, with particular depth in land and real estate due diligence, including the review of land titles, zoning and spatial planning compliance, licensing regimes, asset ownership structures, and project-specific risks.

Relevant Experience

Grafita has been involved in several high-profile and complex transactions. Her experience includes representing and advising clients in capital markets transactions, including IPOs, rights issues, and debt securities offerings, as well as selected M&A transactions, including:

• PT Global Digital Niaga Tbk. (BELI), one of the Indonesia’s leading e-commerce “blibli.com”, on its historical second-largest Initial Public Offering (IPO) in Indonesia of 2022 and fifth-largest in Indonesian Stock Exchange history
• PT Bank Syariah Indonesia Tbk (BRIS), Indonesia’s leading Islamic (Shariah) bank, in its issuance and shelf public offering of Syariah bonds (sukuk), representing a flagship Shariah-compliant capital markets transaction structured to support long-term balance sheet resilience, deepen Islamic capital markets liquidity, and reinforce BRIS’s role as a cornerstone institution in Indonesia’s Shariah finance ecosystem
• PT Bank Mandiri (Persero) Tbk (BMRI), Indonesia’s leading state-owned bank, in its continuous public offerings of green bonds, representing a large-scale and recurring capital markets programme designed to support sustainable financing, strengthen national banking liquidity, and advance the Bank’s ESG and green financing agenda in line with Indonesia’s sustainable development objectives
• PT Dian Swastatika Sentosa Tbk (DSSA) in connection with multiple issuances of rupiah-denominated bonds and sukuk listed on the Indonesia Stock Exchange, supporting the diversified financing requirements of a complex corporate group comprising more than 80 subsidiaries, and underpinning the Group’s long-term capital structure optimization
• PT Bentoel Internasional Investama Tbk (now PT Bentoel Investama) in its unprecedented go-private transaction, marking the first succesful go private transaction pursuant to OJK No. 3/POJK.04/2021 on Implementation of Capital Market Activities
• PT Nusantara Infrastructure Tbk in its go-private process, representing the next generation of take-private transactions and underscoring Makes’ continued leadership in piloting and executing complex go-private transactions in Indonesia
• PT Profesional Telekomunikasi Indonesia in its continuous public offering of shelf-registered bonds, representing one of the most sophisticated and recurring debt capital markets programmes in Indonesia’s telecommunications infrastructure sector
• PT Profesional Telekomunikasi Indonesia in its landmark acquisition of a controlling interest in PT Solusi Tunas Pratama Tbk, constituting a transformative consolidation of passive telecommunications infrastructure and one of the most significant takeovers in Indonesia’s digital connectivity sector
• PT Prokemas Adhikari Kreasi, a key packaging subsidiary within the FSW Group, in its strategic and value-maximizng divestment via the mega acquisition by SCG Packaging Public Company Limited (SCGP)
• Almar Water Solutions Espana S.L.U in its first entry into the Indonesian market through a strategic partnership with Moya Indonesia Holdings Pte. Ltd. to invest in Obor Infrastructure Pte. Ltd., a platform company operating