JAKARTA. PT AKR Corporindo Tbk (AKRA) has increased its stake in PT Anugrah Karya Raya, its subsidiary in the coal trading and mining businesses.
AKRA increased its stake by taking over all of Anugrah shares held by PT Pundi Prima Investama (7.5 million shares valued at Rp1,000 per share).
After the takeover, AKRA owns 99.99% of Anugrah's shares, with the other 0.01% are hold by PT Usaha Era Pratama Nusantara, a subsidiary of AKRA.
According to the data gathered by idnfinancials.com, Anugrah only booked a profit of Rp718 million in the first semester of 2020.
Suresh Vembu, Director and Corporate Secretary of AKRA, said that the purchase of Anugrah's shares is not a material or affiliate transaction (KR/AR)