JAKARTA – Yeti Sopandi secured fresh funds of IDR 23.42 billion from the sale of 12.71% shares in PT Esta Multi Usaha Tbk (ESTA) during transactions last week (24-25/2). Yeti is one of the ultimate beneficial owners (UBO) of ESTA shares.

Melwin Wangkar, President Director of ESTA, stated that Yeti Sopandi's significant share sale was for personal reasons. "The buyers include JP Morgan Chase Bank (JPMCB) and several other shareholders, who are not affiliated with the company," he said in a public disclosure on Tuesday (11/3).

He further mentioned that the company is currently confirming with Yeti Sopandi regarding the share sale.

Before the transaction, Yeti Sopandi held 388.26 million shares (16.01%), which has now decreased to 80 million shares (3.3%) following the sale of 308.27 million shares at a price of IDR 76 per share.

As of February 28, 2025, ESTA had a total of 2.42 billion shares with a shareholder structure consisting of 73.33% Controlling Shareholders and 26.67% Non-controlling Shareholders. The free float percentage was 6.26%, and the number of shareholders was 2,182 investors.

There was no change in the ultimate beneficial ownership of ESTA shares following Yeti Sopandi's sale. The current UBOs of ESTA shares include Melwin Wangkar, Yan Peter Wangkar, and Yeti Sopandi. (LK/ZH)