JAKARTA. Shares of PT Bukit Uluwatu Villa Tbk (BUVA) came under pressure after PT Asia Leisure Network (ALN), one of its shareholders, sold its entire stake in the company that manages Alila Hotels.

Rian Fachmi, Corporate Secretary of BUVA, confirmed that ALN has divested 1.7 billion of its shares, equivalent to 8.27% of BUVA's total shares on the Indonesia Stock Exchange (IDX).

"The purpose of the transaction is for divestment," he said in an information disclosure on Friday (21/2). ALN sold the BUVA shares at a price of IDR 40 per share, raising a total of IDR 68 billion.

As additional information, Happy Hapsoro has been the controlling shareholder of BUVA since 2023 through PT Nusantara Utama Investama (NUI). Hapsoro, the husband of politician Puan Maharani, now holds 12.57 billion shares or 61.07% of BUVA's total shares. He acquired this ownership through a private placement scheme to convert part of BUVA's debt at IDR 60 per share.

At the close of trading today (21/2), BUVA's stock price fell 7.32% to IDR 76 per share, down from IDR 82 at the opening. (DK/ZH)