JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) has acquired the shares of PT Istaka Karya (Persero) in its subsidiary, PT Jasamarga Kunciran Cengkareng (JKC). This subsidiary is the one managing Kunciran Cengkareng toll road with total assets of IDR 5.47 trillion as of September 2023.

Nixon Sitorus, Corporate Secretary of Jasa Marga, mentioned that this shares acquisition transaction is valued at IDR 3.65 billion. “The transaction is carried out through a tender offer, and does not contain any conflict of interest,” he claimed in the information disclosure quoted Tuesday (23/1).

This affiliate transaction took place on December 27, 2023, in which the closing price was seen at IDR 4,760 per share. At that time, the market capitalisation of JSMR was recorded at IDR 34.54 trillion.

As of September 2023, JKC’s contribution to JSMR’s revenue increased to IDR 316.26 billion from the previous IDR 250.73 billion. The total revenue of this state-owned toll road operator hit IDR 9.79 trillion. (LK/ZH)