JAKARTA. PT Kalbe Farma Tbk (KLBF) sold as much as 1 million shares of its subsidiary, PT Enseval Putera Megatrading Tbk (EPMT), in the negotiating market, at a price of Rp 2 billion.
Vidjongtius, Director of KLBF, said the sale was done to improve the company's cash balance. "There are no specific buyers, because the sale is done to strengthen cash flow," he explained as quoted by Kontan on Friday (4/10) today.
Despite the sale, KLBF still controls 92.47% of Enseval shares. Previously, the company owned 92.51% of Enseval shares.
Vidjongtius admitted that his party would continue to develop Enseval. The expansion strategy that is prepared is by adding warehouses and expanding distribution lines. He admitted that every year, Enseval needs Rp 200 billion to expand its business. (KR/AR)