CSAP’s portion in Kusuma Kemindo shrinks

10 August 2022 14:18

JAKARTA. The stock ownership percentage of PT Catur Sentosa Adiprana Tbk (CSAP) in PT Kusuma Kemindo Sentosa Tbk (KKES) has been diluted following the initial public offering (IPO) of KKES.

CSAP originally had 51% of KKES’s shares. Then, PT Builestari Sentosa was listed as the owner of another 14%, followed by Kiki Rusmin Sadrach of 13.32%, Kundi Wijaya of 10%, Sri Lanty Totong of 5%, Retno Widyanti of 3.36%, and Felicia Widyanti of 3.32%.

In the IPO, KKES issued 300 million shares. KKES managed to collect IDR 31.5 billion of fresh funds in this corporate action.

Furthermore, as stated in KKES's IPO prospectus, 95% of the IPO proceds will be utilised to promote operational activities and business expansion. Then, the small remaining 5% will be spent on upgrading its information and technology system. (KR/ZH)

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