JAKARTA – PT Rukun Raharja Tbk (RAJA) will retain around 70% ownership in PT Raharja Energi Cepu Tbk (RATU) after the planned 10% share divestment is completed. Before the divestment of 4.66% last week (6/3), RAJA held a 79.996% stake in RATU.

In an official statement on Wednesday (12/3), Yuni Pattinasarani, Corporate Secretary of RAJA, confirmed the company’s plan to gradually divest 10% of RATU shares. "Despite selling 4.66%, the company remains the majority shareholder with a 75.34% stake in RATU," she said.

The target of divesting 10% of RATU shares will be conducted in stages. In the first phase, RAJA sold 4.66% or 126.52 million shares of RATU last week (6/3), reducing its remaining shareholding to 5.34%.

RAJA has not disclosed the buyer of RATU’s shares. "The sale was made to parties not required to report share ownership," said Yuni.

This is in accordance with OJK Regulation No.4/2024 concerning Reports on Share Ownership or Changes in Share Ownership of Public Companies and Pledging of Shares of Public Companies.

As of 3:33 PM WIB, RATU’s shares had fallen 4.11% or IDR 225 to IDR 5,250 per share. Over the past week, its share price has dropped 15.66% or IDR 975.

Meanwhile, RAJA’s shares also slipped 7.69% or IDR 190 to IDR 2,280. In the past week, its shares have plunged 15.87% or IDR 430. (LK/ZH)