JAKARTA - PT Alkindo Naratama Tbk (ALDO) plans to transfer 22.99 million units of its treasury stock to PT Pabrik Kertas Noree Indonesia (PKNI) and PT Ardana Investama Indonesia (AII).

Kuswara, Director of ALDO, mentioned that the stock treasury sale is projected to take place outside the trading session in Indonesia Stock Exchange (IDX). “Each buyer is not affiliated to the company,” he said in the information disclosure today (1/9).

According to Kuswara, the transaction will take place in two weeks, on September 15, 2023. Each buyer will receive 11.99 million shares from ALDO.

Until July 2023, ALSO reported having total shares of 1.31 billion, 68.75% of which was controlled by PT Golden Arista, while Lily Mulyadi Sutanto claimed another 3.2%, Erik Sutanto of 0.91%, Herwanto Sutanto of 1.87%, Willy Soesanto of 1.73%, the public of 21.72%, and the treasury stock of 1.82%.

After this upcoming transaction, ALDO will run out of treasury shares. The buying parties, PKNI, is a paper manufacturer, while AII is a holding company.

Yesterday (31/8), ALDO’s shares were closed at IDR 675 per share. It peaked to IDR 685 per share and hit the lowest at IDR 650 per share. (LK/ZH)