JAKARTA. PT Pradiksi Gunatama Tbk (PGUN) has purchased plantation land from PT Langgai Agrindo Agung and PT Bumi Paser Agrindo with a transaction value of IDR 235.64 billion.

Tamlikho, Director of PGUN, stated that the value of the land purchase transaction was equivalent to 16.49% of the company's total equity, as of December 31, 2022. "So the transaction is not a material transaction," said Tamlikho, through an information disclosure on the Indonesia Stock Exchange (IDX).

Tamlikho added that Bumi Paser Agrindo and Langgai Agrindo Agung were not part of the company.

The source of funds used by PGUN to purchase the land comes from operational funds and debt from shareholders. In detail, as much as IDR 76.64 billion came from the company's operational funds and the remaining IDR 121.5 billion came from PT Araya Agro Lestari's debt.

According to data from idnfinancials.com, PGUN's share price in the first trading session of the day moved up 2.70% to a level of IDR 570. However, in the last year, the company's share price fell 18.57% or 130 points from IDR 700 per share. (KR/LM)