JAKARTA - PT Provident Investasi Bersama Tbk (PALM) injected IDR 1.86 trillion into capital for its subsidiary, PT Suwarna Arta Mandiri (SAM). The capital disbursement was in 1.86 million shares with a nominal value of IDR 1 million per share.

In the information disclosure quoted on Thursday (4/1), the capital injection into SAM was equivalent to 62.19% of SAM's issued and paid-up capital after the additional capital. SAM's authorized capital after the transaction increased to IDR 2.99 trillion from IDR 1.13 trillion. Owners of total issued and fully paid capital consist of PALM 99.99% and PT Alam Permai 0.001%.

The capital disbursement is to support the PALM group's expansion plans. The transaction value is equivalent to 44.61% of PALM's equity as of June 2023, amounting to IDR 4.16 trillion. (LK/LM)