JAKARTA - PT Sinar Mas Multiartha Tbk (SMMA) has completed the acquisition of 60 million shares of PT Paramitra Multifinance (PMF) of IDR 60 billion.

Burhanuddin Abdullah, President Director of SMMA, confirmed that the transaction payment took place earlier today (17/4). “The value of shares acquisition does not exceed 20% of SMMA’s total equity. Thus, it is not categorised as material transaction. This acquisition is not an affiliate transaction,” he added in the information disclosure quoted today (17/4).

As of December 2023, its total equity clocked up to IDR 24.82 trillion, growing from IDR 23.67 trillion seen in the same period in 2022. Total liabilities and equity were at IDR 113.96 trillion, lower than IDR 114.40 trillion.

PMF’s total shares were recorded at 300 million worth IDR 300 billion. The shareholder structure initially comprised PT Premier Mitra Cemerlang (PMC) of 99.99% and PT Para Utama Sedaya of 0.01%. Post-transaction, PMF’s total shares rise to 399.7 million worth IDR 399.7 billion, while the shareholder structure now consists of Hyundai Capital Services, Inc of 75.06%, SMMA of 15.01%, and PT Bank Shinhan Indonesia of 9.93%. (LK/ZH)