JAKARTA – PT Kreasi Jasa Persada (KJP), a subsidiary of PT Petrindo Jaya Kreasi Tbk (CUAN), has strengthened its control over PT Petrosea Tbk (PTRO) by purchasing 39.72 million shares of the company at an average price of IDR 3,030.66 per share.

This transaction was carried out in two stages on 4 and 5 March 2025, with a total investment of IDR 120.19 billion.

Following the transaction, the number of PTRO shares owned by KJP surged to 4.22 billion shares, equivalent to a 41.91% ownership, up from the previous 41.52%, or approximately 4.18 billion shares.

Michael, President Director of CUAN, explained that this purchase aligns with CUAN’s business development plans, which are generally aimed at increasing the company's assets.

"This will provide added value to the company’s stakeholders in the future," said Michael in a disclosure on Wednesday (5/3/2025).

Meanwhile, Robertus Maylando Siahaya, Corporate Secretary of PTRO, clarified that the transaction's objective was for investment purposes.

During the morning trading session at 9.26 AM WIB on Thursday (6/3), PTRO's share price rose by 6.00%, reaching IDR 3,180 per share, up from the previous day’s closing price of IDR 3,000 per share. (EF/ZH)