JAKARTA. PT Batavia Prosperindo Internasional Tbk (BPII) will gain IDR 1 trillion in exchange for its stock portion at PT Batavia Prosperindo Finance Tbk (BPFI).
The news about the value of this divestment was mentioned by BPII in the information disclosure in Indonesia Stock Exchange (IDX). On the same occasion, the management also specified that the divested shares will amount to 1.66 billion shares, which are equal to 62.04% of BPFI.
Furthermore, the value of the divestment is equivalent to 70.60% of BPII’s total equity. According to idnfinancials.com data, BPII’s total equity at the end of December 2021 reportedly clocked up to IDR 1.42 billion.
BPII will ask for approval from its shareholders to discharge its percentage in BPFI. This General Shareholders Meeting will take place on July 29, 2022.
As mentioned previously, the buyer in this transaction is Woori Card Co Ltd, a South Korean company. The management also reiterated that Woori Card is not affiliated with the company in any way. (KR/ZH)