"Jasa Marga is evaluating the shares offering," JSMR Corporate Secretary Agus Setiawan told Kontan.co.id on Friday (15/3).
Mr Setiawan added that the bidding mechanism is carried out to other shareholders in Jasamarga Surabaya-Mojokerto. However, he did not explain the mechanism in detail.
WIKA owns a 20% stake in the toll road, while the rest is owned by JSMR (55%) and PT Moeladi (25%). Currently WIKA is trying to divest a number of toll road sections such as Surabaya-Mojokerto and Manado-Bitung. (MS)