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Indika Energy ups stake in Australian mining company

03 December 2020 09:48

JAKARTA. PT Indika Energy Tbk (INDY) has increased its stake in Australian mining company Nusantara Resources Ltd by exercising its stock options of 16.69 million shares.

According to INDY Corporate Secretary Adi Pramono, the company's stock options were given for A$0.35 per share. "The company exercised its stock options with a total equity price of A$5.84 million," he said in a stock exchange filing.

Following the transaction, INDY through its subsidiary PT Indika Mineral Investindo now owns a 27.75% stake in Nusantara Resources. Previously, as of September 2020, INDY owned a 22% stake.

The transaction, said Mr Pramono, aimed to strengthen the company's business outside coal mining. "This transaction is part of the company's strategic measures to increase its ownership in NUS as a diversification strategy," he said. (KR/MS)

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