JAKARTA – PT Trijaya Putra Mulia (TPM) collected IDR 15.21 billion from divesting 3.37% of its shares in PT First Media Tbk (KBLV), the internet service provider under the brand First Media. After the transaction last week (7/4), TPM’s portion was reduced to 24% from the initial 27.37%.
Eddy Harsono Handoko, President Director of Trijaya Putra Mulia, revealed that the divested shares amounted to 55 million units of IDR 275 per share. The number of shares after the transaction now clocks up to 421,772,713 units, depleting from 476,772,713 shares.
As of March 2022, KBLV’s shares comprised 1,742,167,907 units, 33.76% of which belonged to PT Reksa Puspita Karya (RPK). TPM claimed another 27.37%, while PT Ciptadana Capital owned 19.67% and the public 19.2%.
First Media posted revenue of IDR 151.80 billion in 2021, shrinking from the 2020 revenue of IDR 188.69 billion. Its gross profit also declined from IDR 85.16 billion to IDR 64.86 billion. Even worse, its operating loss clocked up to IDR 1.32 trillion, doubling from IDR 62.52 billion, due to the increased investment impairment charges in associates, amounting to IDR 1.94 trillion. (LK/ZH)