Stock price slid off, Trijaya Putra divests 23.16% of First Media

22 April 2022 16:53

JAKARTA. PT Trijaya Putra Mulia (TPM) had recently divested 23.16% of its portion in PT First Media Tbk (KBLV) in several stages since the beginning of this year.

KBLV’s shares that were sold off by TPM reportedly reached 403.52 million shares. As of April 18, 2022, TPM still controlled 288.25 million units of shares, equivalent to 16.55% of KBLV. In comparison, in the beginning of 2022, TPM used to have a claim over 39.71% of KBLV.

TPM then gained fresh funds of IDR 13.5 billion in return from selling off KBLV’s shares on April 18, 2022. Moreover, it had acquired IDR 20.16 billion from selling shared on April 12, another IDR 14.5 billion on April 7 sale, IDR 31 billion on February 18, IDR 27 billion on February 10, and IDR 36.9 billion on January 20. In conclusion, the total funds raised by TPM amounted to IDR 143 billion.

The reason behind TPM’s decision to divest more than half of its portion in KBLV. As previously mentioned by idnfinancials.com, TPM is a company headquartered in one of the office tower owned by Lippo Group, UPH Lippo Karawaci Tower.

According to idnfinancials.com data, KBLV’s stock price has indeed shrunk 57.19% or 326 points since early 2022. Then, following the news of TPM’s divestment, KBLV’s stock price is closed at IDR 244 per share, weakening 1.61% or 4 points lower. (KR/ZH)

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