JAKARTA. PT United Tractors Tbk (UNTR), a heavy equipment and mining services company owned by Astra Group, purchased 1,300 new shares issued by its subsidiary, PT Karya Supra Perkasa (KSP).
Sara K. Loebis, Corporate Secretary of UNTR, said that the transaction is an affiliate transaction, because previously, the company already owned 99.9113% of KSP shares. The total value of the new shares purchased does not exceed 20% of the company's total equity.
"The transaction is not a material transaction," Loebis explained through an official statement.
UNTR owns 1,126,900 of KSP shares, with a total value of Rp 1.12 trillion. PT United Tractors Pandu Engineering, a subsidiary of UNTR, also owns 0.0887% of KSP shares.
As of September 2019, KSP is still the controlling shareholder of PT Acset Indonusa Tbk (ACST), a property company with a market capitalization of R p735 billion. KSP owns 50.10% of ACST shares. (KR/AR)