JAKARTA. PT PP Properti Tbk (PPRO) has sold 646.25 million units of shares of PT Menara Maritim Indonesia (MMI), equivalent to 21.13% of the shares amounting to IDR 70.09 billion.
Deni Budiman, Corporate Secretary of PPRO, stated that the said portion of shares had been sold to PT Pengembangan Pelabuhan Indonesia (PPI). “The conveyance of the company’s shares in PT Menara maritime Indonesia was a part of the strategy to manage its investment portfolio,” Budiman explained in the official statement received by idnfinancials.com
Then, PPRO would utilise the freshly collected profit to fund ongoing projects. Furthermore, Budiman claimed that it would be easier for PPRO to optimise its assets.
According to idnfinancials.com data, MMI is a company established by PPI and PPRO in 2018 in order to expand PPRO’s business in the property sector. The portion of the shares used to be 78.87% by PPI and 21.13% by PPRO. Therefore, after this divestment, PPRO no longer owns any shares portion in MMI. (KR/ZH)