JAKARTA – PT Sariguna Primatirta Tbk (CLEO) will sell 40.12 million treasury shares from its buyback to the company’s controlling shareholder starting next week (21/5). As a result, the controlling shareholder's stake in CLEO will increase by 0.333% of the total listed shares.

Lukas Setio Wongso, Corporate Secretary of CLEO, stated that the party set to purchase the treasury shares is PT Tancorp Global Abadi (TGA), which holds a 55.7908% stake in CLEO’s 12 billion shares.

"The sale price of the treasury shares will not be lower than the average buyback price," he mentioned in an information disclosure on Friday (14/3).

The selling price will also not be lower than the daily closing price of the shares one day before the sale date or the average daily closing price over the past 90 days before the sale, with a maximum discount of 7.5%.

CLEO currently has 12 billion shares, with the ownership structure comprising 76.88% by the controlling shareholder and 23.12% by non-controlling shareholders. The company has 13,998 shareholders, with Hermanto Tanoko as the ultimate beneficial owner. (LK/LM/ZH)