EMTK made another investment in Grab, raising stakes to 5.88%

06 July 2021 06:24

JAKARTA. Last month, PT Elang Mahkota Teknologi Tbk (EMTK) had injected another capital to PT Grab Teknologi Indonesia worth USD 210 million, equivalent to 3.29% of its issued and paid-up capital. Along with this additional investment, EMTK now owns 5.88% of Grab Teknologi.

Titi Maria Rusli, the Corporate Secretary of Elang Mahkota Teknologi, claimed that the transaction value is still within the upper and lower limit of market value by 7.5%. “This transaction value is equal to 24.9% EMTK’s equity, referring to our year-end financial report of 2020,” Rusli explained in the information disclosure in Indonesia Stock Exchange last week.

According to Rusli, the said transaction aims to support the main business line and to solidify Emtek’s position as the leading technology and digital company in Indonesia. It also serves as a way to improve the digital ecosystem. (AM/ZH)

© 2024 - IDN Financials - All Rights Reserved.