JAKARTA. PT Trimegah Bangun Persada Tbk (NCKL) acquires a portion of the shares of PT Obi Nickel Cobalt amidst its shares’ mass-divestment throughout the week.

The shares acquisition of Obi Nickel was announced by NCKL post-closing bell last Friday (13/12). According to the official disclosure, NCKL purchased 10% of Obi Nickel from Li Yuen, with value set to IDR 2.1 trillion or equal to USD 140 million.

After this acquisition, NCKL’s portion in Obi Nickel increases to 20% from the previous 10%, whereas Li Yuen’s portion shrank to 20% from 30%. Lygend New Power (Hong Kong) Limited remains as the biggest shareholder of NCKL.

For the record, this acquisition is categorised as affiliate transaction, as Li Yuen is also listed as the ultimate beneficial owner of NCKL’s shares.

“The company notices the promising business development prospect in ONC. Thus, in order to boost financial position and reinforce business development, the company recognises the need to increase ownership in ONC,” the management said.

According to IDNFinancials data, foreign investors had been quite consistent in selling off NCKL’s shares since last Monday (9/12). Total foreign transaction last week reported a net foreign sell of 3.41 million shares, equal to IDR 2.76 billion. (KR/ZH)