JAKARTA - PT Arthakencana Rayatama increased its share ownership in PT AKR Corporindo Tbk (AKRA) to 59.60% by buying 300,000 shares yesterday (13/3). Since January 2020, the company has recorded a number of transactions to increase its ownership by 59.01%
From the disclosure of company information quoted on Monday (23/3), Haryanto Adikoesoemo, President Director of PT Arthakencana Rayatama, said the stock transaction was carried out at a purchase price of Rp 1,805 per share. The number of shares before the transaction was 2,392,326,120, up to 1,392,626,120 shares. The total investment of the company is Rp 541.50 million.
The action to increase the shares was conducted by the company after AKRA's management decision to buyback to neutralize stock prices related to the fluctuations in the stock market impact of the Covid-19 plague. On March 6-12 2020, the company also made a transaction by buying 4,870,000 shares at Rp 2,157 per share. Arthakencana share ownership rose from 59.47% to 59.59% of paid up capital. On February 28-March 5, 2020, the company also increased its ownership from 59.29% to 59.47%. This company is the majority owner of AKRA shares. (LK)