JAKARTA - PT Citra Tubindo Tbk (CTBN) sells its shares amounting to 2,830,000 shares to Grand Prideco Jersey worth US$ 3,720,445. Citra Tubindo is the producer of pipeline steel and iron based on Batam.
Operational Director of PT Citra Tubindo Tbk Andi Tanuwidjaja said the share sales to Grand Prideco will increase the company's cash. "The shares that is sold in the PT H-Tech Oilfield Equipment is based in Batam Island," he said.
Based on the company's financial report during the half year of 2017, the company's revenue booked US$ 19.76 million or soared compared with the same period in 2016 noted US$ 12.76 million. The largest contribution to the revenue came from the sales of pipe materials, followed by the pipe processing services and accessories sales, and the heat treatment division.
In December 2016, the company's revenue noted US$ 85.68 billion, where the largest contribution came from the sales of pipe materials, the pipe processing services and accessories sales, and the heat treatment division. (LK)