JAKARTA – Concordant Investments Pte Ltd, Singapore collected IDR 1.08 trillion in exchange for 4% of its shares in PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) last week (1/4). The said transaction is formally announced by Tiur Simamora, Corporate Secretary of Sido Muncul, through a release quoted today (8/4).
It was mentioned that Concordant’s shares are now depleted to 17.4% or 5,140,877,862 shares from 21.14% or 6,340,877,862 shares. “The divestment of those 1.2 billion shares was fixed at IDR 900 each,” Simamora further explained.
As of March 2022, SIDO reportedly owned 30 billion shares, 60.46% of which was controlled by PT Hotel Candi Baru. Then, Concordant Investments claimed another 21.14%, leaving the public with 18.4% of the shares. (LK/ZH)