JAKARTA – Vikram Sinha made another purchase of 1.63 million shares of PT Indosat Tbk (ISAT) last week, increasing his ownership stake to 0.0129%.

Prior to the transaction, Vikram, who also serves as the President Director (CEO) of ISAT, already held 2.99 million shares. With this latest acquisition, Vikram's total holdings in ISAT now amount to 4.15 million shares.

According to Vikram, the transaction was intended as a long-term investment.

The share purchase was executed through five transactions, with an average price of IDR 1,719 per share. Based on this average price, Vikram spent nearly IDR 2 billion on the transaction.

In Thursday's (20/2) trading session, ISAT shares opened up by 4.71% or 80 points to IDR 1,775 per share as of 9:31 a.m. Western Indonesian Time (WIB). However, since the beginning of this year, the telecommunications company's share price has fallen by 25.21% or 600 points. (KR/ZH)