JAKARTA. PT Agung Podomoro Land Tbk (APLN) sold land and shares owned by its subsidiary, PT Buana Makmur Indah (BMI), to PT CFCity Tangerang Investment, to strengthen its liquidity.
Noer Indradjaja, Deputy Director of APLN, said that BMI and CFCity signed a land sale and purchase agreement on Monday (7/9) yesterday.
Furthermore, BMI also signed a share sale and purchase agreement with CFCity. BMI sold 7,131,704 of its PT Trans Heksa Karawang (THK) to CFCity.
In the disclosure published on the Indonesia Stock Exchange's website, Indradjaja did not mention the agreed price for the land and shares. However, he ensured that the sale and purchase agreement was not a material transaction.
"The total value of the planned transaction is less than 20% of the company's equity," said Indradjaja.
According to idnfinancials.com data, APLN's total equity was recorded at Rp 8.63 trillion at the end of June. (KR/AR)