JAKARTA – First Fortuna Holdings (FFH) Pte Ltd sold 1.96 million shares in PT Wijaya Cahaya Timber Tbk (FWCT) in transactions carried out last week (7/3). The move was made to slightly shift its investment in FWCT.

In a disclosure quoted on Monday (10/3), Budi Tjahjadi, Director of FWCT, stated that First Fortuna Holdings sold the shares at varying prices. “The purpose of the transaction was for investment transfer,” he said.

In the first tranche, 500,000 shares were sold at a price of IDR 166 per share, followed by a second tranche where FFH sold 912,000 shares at IDR 167 per share, and in the third tranche, FFH sold 550,000 shares at IDR 168 per share.

After the transaction, FFH’s shareholding decreased to 467.26 million shares (24.92%) from 469.22 million shares (25.03%).

As of February 28, 2024, FWCT had a total of 1.87 billion shares, with controlling shareholders holding 60.8% and non-controlling shareholders holding 39.2%.

The shareholder structure comprises PT Fortuna Anugrah (60.8%), Sendi (Director) 0.1%, Budi Tjahjadi 0.66%, Erwin Kurnia Winenda and Selviana Rumondang (Directors) each holding 0%, FFH 25.03%, and the public 13.41%.

The free float percentage of FWCT shares stands at approximately 13.41%, with 2,159 shareholders. The ultimate beneficiary of FWCT share ownership is Aris Sunarko. (LK/ZH)