JAKARTA – Shares of PT Esta Multi Usaha Tbk (ESTA) rose after JP Morgan Chase Bank (JPMCB) increased its shareholding by 12.72% in transactions that took place last week (24-25/2).

In trading observed on Tuesday (11/3), over the past week, ESTA shares increased by 1.28% or IDR 1 to IDR 79 per share. Over the course of a month, the company's shares strengthened by 3.95% or IDR 3 per share.

However, the stock corrected by 1.25% or IDR 1 to IDR 79 during the early session, at 10:00 AM WIB. The stock opened at IDR 80, the highest price, while the lowest price reached IDR 78 per share.

Quoted in the disclosure on Tuesday (11/3), Melvin Wangkar, President Director of ESTA, stated that JPMCB purchased shares previously owned by Yeti Sopandi. "JPMCB is not an affiliated party of the company," he said.

As of February 2025, JPMCB's stake increased to 16.4% from 3.68% the previous month. Meanwhile, Yeti Sopandi's ownership decreased by 12.71% to 3.3% from 16.01%. Yeti earned IDR 23.42 billion from the divestment of ESTA shares. (LK/ZH)