JAKARTA - PT Suwarna Arta Mandiri (SAM) increases its investment by IDR 49 billion in  PT Provident Investasi Bersama Tbk (PALM) in a transaction occurred yesterday (13/6). SAM is a subsidiary of PALM, with an ownership percentage of 99.9%.

Lim Na Lie, Corporate Secretary of Provident Investasi Bersama, confirmed that SAM’s indirect ownership now rises to 23.39% from the initial 21.93% of the total listed shares. In other words, its shares now amount to 1.61 billion units, 100 million shares more than 1.51 billion units recorded prior. The purchase price is set to IDR 495 per share.

Until May 2023, the number of shares of PALM was recorded at 7.11 billion units, 19.875% of which belonged to PT Saratoga Sentra (SS), followed by PT Provident Capital (PC) of 45.539%, Garibaldi Thohir of 12.5%, Winato Kartono of 5%, and the public of 16.472%.

SAM is known as the holding company established in 2018 with total assets of IDR 5.55 trillion recorded in December 2022. (LK/ZH)