JAKARTA - On Thursday, September 19, the general insurance company PT Lippo General Insurance Tbk (LPGI) conducted a 1:10 stock split. The corporate action's effect: Three large LPGI investors reported a big change in their share portions on the market hints. First, from 178.39 million shares to 1.78 billion shares, PT Hanwha Life Insurance Indonesia, the controller of 59.46% of LPGI shares, has increased its holdings. PT Inti Anugerah Pratama, the owner of 23% of LPGI shares, reported a change in shares from 69 million to 690 million shares. Then, with 14.9% of the shares, foreign investor Hanwha General Insurance Co. Ltd. now owns 447 million, ten times more than 44.70 million previously owned.

Additionally, PT Sinar Mas Cakrawala increased its ownership stake in PT Sinar Mas Multiartha Tbk (SMMA), a financial services provider, by nearly 1.5 million shares. Both the investor and issuer are part of the Sinar Mas Group. PT Sinarmas Sekuritas also facilitated this transaction. Then, 409,300 more shares were acquired by PT Ekadharma Inti Perkasa, which is the PT Ekadharma International Tbk (EKAD)’s controlling shareholder. The company makes and sells adhesive tape, aluminum foil, cling wrap, and related materials.

Conversely, PT Goldman Investindo Sedaya, the controlling shareholder of PT Indo Boga Sukses Tbk (IBOS), recorded the largest share reduction this time around. This investor sold 402 million IBOS shares, resulting in a decrease in the share percentage from 50.83% to 45.84%. The company IBOS, which oversees the D'Monaco Restaurant in Yogyakarta, is in the food and beverage sector. Next, PT Batavia Prosperindo Internasional Tbk sold 1 million shares of consumer finance company PT Woori Finance Indonesia Tbk (BPFI), and PT Samuel Tumbuh Bersama sold 13.81 million shares of palm oil producer PT Nusantara Sawit Sejahtera Tbk (NSSS).

This time, it looked like foreign investors were also dumping shares. Fidelity Funds was the first to sell 51,700 shares of PT Fast Food Indonesia Tbk (FAST), the issuer that runs KFC restaurants as the sole KFC franchisee in Indonesia. Finally, while the total number of shares held remained unchanged, Ruhong Holding Pte Ltd reported a minor drop in its share percentage in PT Perma Plasindo Tbk (BINO), from 88.64% to 88.6%. BINO is the parent company of Bino Group, which manufactures and distributes office equipment under the Bantex brand. (KD)

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