JAKARTA. PT Kalbe Farma Tbk (KLBF), a pharmaceutical company, will sell 5 to 6 million shares of PT Enseval Putera Megatrading Tbk (EPMT).

Vidjongtius, President Director of KLBF, mentioned that said plan had been announced in Indonesia Stock Exchange, and is meant to meet the minimum free float requirement. “So, we have made preparations, but it just needs the process to take place. Transactions cannot be done in one go, right?” he added in the official statement.

EPMT’s stock to be sold by KLBF will be set to the price according to the market mechanism. The company’s portion in EPMT now consists of 92.47% or 2.50 billion shares. Meanwhile, public investors only claim 7.53% of the shares or 203.7 million.

According to IDNFinancials data, EPMT’s stock price during today’s morning session was closed at 20 points lower, or sliding 0.77% off to IDR 2,590 per share. However, looking at the past 5 years, EPMT has recorded an increase of 590 point or 29.5%.

As of September 30, 2023, EPMT recorded revenue of IDR 21.13 trillion. With the net profit margin stable at 2.56%, EPMT booked net profit of IDR 540.39 billion.

In the meantime, EPMT’s total assets were recorded at IDR 10.82 trillion, and its total equity clocked up to IDR 7.09 trillion. (KR/ZH)