JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has realised IDR 53.96 billion of fresh funds to raise its stock portion in PT Wijaya Karya Realty (WKR).

This additional ownership percentage of WIKA in WKR has been announced since mid-2022. The company and Koperasi Karya Mitra Satya (KKMS), the selling party of the traded shares, had signed the shares sale and purchase agreement on December 29, 2022.

The number of KKMS's shares acquired by WIKA clocks up to 2.55 billion units of shares. The selling price of these shares is set by WIKA and KKMS to IDR 100 per share.

After this transaction, KKMS's stock portion in WKR shrinks to 2.09%, while WIKA gains more, bringing its portion to 72.52% now.

"With the transaction underway, the company may maintain its ownership percentage in WKR, considering how WKR has great potential as a state-owned hotel holding company in the future," the management of WIKA stated in the official disclosure.

For the record, KKMS is an affiliate of WIKA through the shared management. (KR/ZH)