JAKARTA - PT Bali Media Telekomunikasi (BMT) is known to have raised its portion by 4.79% to 41.17% in PT Smartfren Telecom Tbk (FREN). However, this investment has yet to boost FREN’s stock performance since the transaction was concluded two weeks ago.

Based on IDNFinancials data, Thursday (5/12), BMT previously claimed 173.39 billion shares of FREN, equal to 36.37% of total listed shares of 476.60 billion.

Two weeks ago, on November 15, however, BMT wrapped up the purchase of 22.85 billion shares worth IDR 25 each, bringing total value to IDR 571.40 billion.

For the record, aside from BMT, FREN’s institutional shareholders as of November 30, 2024, consist of PT Global Nusa Data of 16.37%, PT Wahana Inti Nusantara of 10.21%, and PT Gerbangmas of 9.37%.

In terms of shareholder position, 68.12% of the shares belong to controlling parties, while non-controllers have the remaining 31.79%. The ultimate beneficial owner of the shares, as listed, is Franky Oesman Widjaja.

Within these past two weeks, FREN stagnated at IDR 25 per share, down 50% from its position in the beginning of this year of IDR 50 per share. (LK/ZH)