JAKARTA - The International Finance Corporation (IFC), an international financial institution and a member of the World Bank, officially steps in as the shareholder of PT Adi Sarana Armada Tbk (ASSA). IFC now claims 2.64% of ASSA’s shares.

IFC is listed as ASSA’s shareholders after converting its bonds to equity. According to the press release last Monday (31/7), IFC injected USD 31 million to ASSA through the purchase of convertible bons in mid-2021. At the end of July 2023, IFC decided to exercise its rights and convert the bonds into 97.44 million of ASSA’s shares.

Prodjo Sunarjanto, President Director of ASSA, believes that giving the shareholder position to World Bank member will improve ASSA’s image and credibility in front of its partners and investors.

Until July 2023, PT Adi Dinamika was still listed as the controller of 23.89% of ASSA’s shares, followed by PT Daya Adicipta with 18.26% of shares, Prodjo Sunarjanto of 9.59%, and public investors of 48.26%. (ZH)