JAKARTA - Tolaram Group Inc will increase investment worth IDR 17.11 billion in PT Bank Amar Indonesia Tbk (AMAR) through a transaction that took place last week.

Gaby Diovani, Corporate Secretary of Bank Amar Indonesia, confirmed that Tolaram Group has carried out the shares acquisition transaction on May 11 and 12 of 58.8 million shares each. “The purchase price for 33 million shares is set to IDR 276 per share, while another 25.8 million shares are valued at IDR 306 per share,” she mentioned in the information disclosure quoted Monday (22/5).

The average stock price applied in this transaction is IDR 291 per share. Accumulated, the total transaction value for this acquisition of 58.8 million shares is approximately IDR 17.11 billion.

After this transaction, Tolaram’s ownership rises to 71% or 13.04 billion shares from the initial 70.63% or 12.98 billion shares out of the total listed shares of 18.38 billion until April 2023. Other shareholders of AMAR include Investree Singapore Pte of 13.83% and public investors of 15.33%. (LK/ZH)