JAKARTA - PT Sawit Sumbermas Sarana Tbk (SSMS) is now the major shareholder of PT Citra Borneo Utama Tbk (CBUT) after concluding the exchange of its notes (exchangeable notes) with PT Citra Borneso Indah (CBI).

Deni Agustinus, Head of Corporate Secretary of SSMS, mentioned that CBI remains the shareholder of CBUT with direct ownership of 1.78%, down from the initial 17.60%. “After this transaction, CBUT’s financial report will be consolidated into SSMS’s,” he added in the information disclosure quoted Friday (22/12).

CBUT’s authorised capital was recorded at IDR 1 trillion, followed by issued and paid-up capital of IDR 312.5 billion, and stock in portfolio worth IDR 687.5 billion. After this transaction, CBIT now only holds 1.78% of the shares, while SSMS claims 70.22% of them, followed by PT Kalimantan Sawit Abadi (KSA) and PT Mitra Mendawai Sejati (MMS) of 4% each, and the public of 20%. (LK/ZH)