JAKARTA. PT Astra International Tbk (ASII) will be back on the banking industry following the acquisition of 49.56% of PT Bank Jasa Jakarta (BJJ) by it's subsidiary, PT Sedaya Multi Investama (SMI).
ASII and BJJ reportedly signed Shares Subscription Agreement (SSA) earlier this month, according to Gita Tiffani Boer, Corporate Secretary of ASII. "SMI will then take over 1,138,008 new shares that represent 49.56% of the entire issued and paid-up capital of BJJ," she added.
The transaction value totalled IDR 3.88 trillion, as stated in the SSA. "The intention behind this transaction is to develop business and investment activities of SMI," Boer clarified.
Aside from SMI, most BJJ's shares are under the control of Welab Sky Limited. For the record, Welab Sky is a Hong Kong based Fintech company. After this capital investment, the portion of Welab Sky in BJJ will rise to 49.56%. (KR/ZH)