JAKARTA - PT Hillcon Equity Management (HEM) raised fresh funds of IDR 103.6 billion from divesting 37 million shares of PT Hillcon Tbk (HILL). HEM is known to be the controlling shareholder of HILL.

In the information disclosure quoted Tuesday (7/1), Hersan Qiu, President Director of HILL, mentioned that the selling-off is meant as an investment.

HEM sold 37 million shares for IDR 2,800 each last week (3/1). After this transaction, its portion is reduced by 1.25% to 1.82 billion or 61.76% of 1.85 billion shares. Previously, it was 1.85 billion shares, or 63.01% of all shares outstanding of 2.94 billion.

For the record, HEM’s exercise price was higher than HILL’s closing price on January 3 at IDR 2,340 per share.

As of December 2024, HILL reported shareholders consisting of controlling party of 63.01% and non-controllers of 36.99%. Total shareholders reached 1,969, with free float rate reported at 398.42 million shares. (LK/ZH)