JAKARTA – Alvin W. Sariaatmadja reportedly acquired 824.7 million shares of PT Elang Mahkota Teknologi Tbk (EMTK) at a discounted price on Wednesday (26/2).

According to today’s (27/2) disclosure, the President Director of EMTK purchased the company’s shares at IDR 400 per share, significantly below the closing price of EMTK at IDR 545 on Wednesday (26/2).

The transaction price was even below EMTK’s lowest price during trading on February 26, which was IDR 515.

This acquisition amounted to IDR 329.9 billion in total. With this share purchase, Alvin Sariaatmadja’s stake in EMTK increased to 1.5%, up from 0.16% previously.

Titi Maria Rusli, EMTK's Corporate Secretary, stated that the director’s share acquisition was intended for investment purposes through indirect ownership.

As previously reported by IDNFinancials.com, PT Adikarsa Sarana, one of EMTK’s largest shareholders, also made significant share purchases on the same date (26/2).

In this transaction, Adikarsa Sarana bagged 2.25 billion shares of EMTK for IDR 400 each, bringing total value to IDR 900 billion. (ZH)