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ASHA acquires Jembatan Lintas Global for IDR 28 billion

31 May 2022 15:01

JAKARTA - PT Cilacap Samudera Fishing Industri Tbk (ASHA) acquired a 99.97% stake in PT Jembatan Lintas Global (JLG) for IDR28 billion from Ervin Sutioso (ES) and Andi Sugiarto (US), shareholders affiliated with the company. JLG will later become a subsidiary of ASHA, which will spearhead fish exports to China.

In a brief prospectus quoted Tuesday (31/5), the number of JLG shares purchased was 3,449 shares, consisting of 3,324 for ES and 175 for AS. AS is the husband of ES, each of which owns 10% of ASHA's issued and fully paid capital of IDR75 billion.

JLG, the company acquired by ASHA, is located in Surabaya, which is considered strategic for the transit of fish raw materials from Central and Eastern Indonesia. This company also has a China Registration Number (CRN) which is one of the requirements for exporting fish to China.

The source of funds to acquire JLG shares came from ASHA's initial public offering (IPO) at an offering price of IDR100 per share. In the corporate action, ASHA pocketed IDR125 billion. (LK/LM)

 

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