JAKARTA. SGMC VCC, a venture capital based in Singapore, has divested 78.73 million shares of  PT Era Digital Media Tbk (AWAN).

The divestment was completed last week through transaction in Indonesia Stock Exchange (IDX). In the transaction, SGMC VCC is aided by Deutsche Bank AG.

With this divestment taking place, SGMC VCC’s portion in AWAN shrinks to 400 million shares or 11.64%. Previously, SGMC VCC claimed 478.73 million shares or 13.93%.

For the record, in April 2023, SGMC VCC has acquired 157.42 million shares of AWAN. With purchasing price of IDR 110, SGMC VCC spent IDR 17.31 billion.

The transaction in April managed to raise SGMC VCC’s portion in AWAN to 478.73 million shares or 13.93% from the previous 321.31 million or 9.35%.

According to IDNFinancials data, AWAN’s stock was closed 0.71% or 2 points higher at IDR 280 per share at the closing bell of today’s (13/2) morning session. With this price, SGMC VCC is projected to rake in IDR 22.05 billion from divestment of AWAN’s shares. (KR/ZH)