Glencore purchases 18% of Cita Mineral shares
JAKARTA. PT Harita Jayaraya sold 18% of PT Cita Mineral Investindo Tbk (CITA) shares to Glencore for Rp 1.25 trillion. The transaction was done at a premium price (15.33% above the market price).
PT Harita Jayaraya is the controlling shareholder of a bauxite mining company, CITA. The transaction was carried out on 18 December 2019.
"On 18 December 2019, Harita Jayaraya as the controlling shareholder of the company completed the sale of 606,732,282 shares of the company, representing 18% of the company's issued shares, to Glencore," said Harry Kusuma Tanoto, Director of CITA, in a disclosure on the IDX on Friday (20/12)
The sale of the shares, he said, had no negative impact on the company's revenue and business continuity for the transaction.
The price used in the transaction was Rp 2,076 / share. The price is considered premium, because it is higher than the price on the regular market at that time (Rp 1,800 / share). (AM/AR)