JAKARTA - The Indonesian Bulog Employee Cooperatives (Kopelindo) have offloaded 720 million shares in PT Bank Bukopin Tbk (BBKP) last year. The amount represented over half of Kopelindo’s ownership in the company.
According to an Indonesia Stock Exchange (IDX) filing on January 1, 2020, as of December 31, 2019 Kopelindo’s ownership in Bank Bukopin has been reduced from 11.51% or 1.3 billion shares to 5.259% or 612,727,934 shares. Kopelindo’s stake in the company was diluted as public ownership in the company, which currently stands at 40.21%, increased.
Currently PT Bosowa Corporindo is Bank Bukopin’s controlling shareholder with a 23.39% stake. Kookmin Bank Co Ltd owns a 22% stake, while the Republic of Indonesia owns 8.92%. (MS)