Focusing on integrated business, KRAS restructures its subsidiaries

25 March 2022 06:57

JAKARTA – PT Krakatau Steel (Persero) Tbk (KRAS) restructures the share ownership of its subsidiaries in order to enhance its business in the integrated industrial zone. Pria Utama, Corporate Secretary of Krakatau Steel, announced the news in the information disclosure quoted Friday (25/3).

It was mentioned that the reassigned shares originally belonged to PT Krakatau Information Technology (KIT), which were transferred to PT Krakatau Saran Infrastuktur (KSI). The original shareholders of KIT, which are also affiliated companies of KRAS, were Krakatau Bandar Samudera (KBS) of 23.44%, PT Krakatau Daya Listrik (KDL) of 11.72%, and PT Krakatau Tirta Industri (KTI) of 11.72%. “The value of the shares transfer among these companies were accumulated to IDR 31.64 billion,” Utama confirmed.

With this transaction, KIT’s shareholders have now changed into KSI of 70.31%, KRAS of 25%, and PT Krakatau Medika of 4.69%. “It will strengthen the synergy between the company and the business group, while also arranging the business structure within the company group,” Utama concluded. (LK/ZH)

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