Saratoga and controllers mass-divest portions in PRAY
JAKARTA. PT Saratoga Investama Sedaya Tbk (SRTG) and several key shareholders reportedly divested their portions in PT Famon Awal Bros Sedaya Tbk (PRAY). The divestiture took place after securing capital gain from the IPO of PRAY in November 2022.
SRTG previously owned 425,440 million shares of PRAY. After the divestment on February 27, 2023, SRTG reportedly has zero percentage left in PRAY. According to the information disclosure in Indonesia Stock Exchange (IDX) last week, Leona Agustine Kamali, Director of PRAY, revealed that Saratoga Investama Sedaya confirmed that the divestiture is indeed intended to secure capital gain in exchange for the investment in PRAY.
PRAY also confirmed the divestment of four other shareholders—PT Famon Obor Maju, Yos Effendi Susanto, PT Sehat Abadi Cemerlang, and PT Awal Bros Citra Batam—on February 20, 2023. These divestitures also took place due to their intentions to obtain capital gains post-investment in PRAY.
PT Famon Obor Maju has a claim over 6.48 billion shares or 46.47% of total shares, followed by PT Awal Bros Citra Batam that has 2.42 billion shares or 17.34%. Yos Effendi Susanto still has 107.90 million shares or 0.77%. Zico Trust, a company based in Singapore, also divested 128.14 million of its shares in PRAY (0.92%) on February 27, 2023. (AM/ZH)