JAKARTA – Energy sector conglomerate Garibaldi Thohir, also known as Boy Thohir, has once again accumulated shares of PT Adaro Andalan Indonesia Tbk (AADI) after Jakarta Composite Index (JCI) fell by over 3%.

Boy Thohir, the owner of Adaro Group, purchased 3.65 million AADI shares on Wednesday (19/3).

The acquisition was made over 9 transactions at an average price of IDR 6,793.96. The total amount Boy Thohir spent on this transaction is estimated to be IDR 24.8 billion.

AADI’s President Director, Julius Aslan, stated that Boy Thohir’s transaction was made as part of his investment strategy. Julius noted that Boy Thohir directly owns all the shares.

It is important to note that Boy Thohir, along with PT Adaro Strategic, remains the controlling shareholder of AADI. Both parties have committed to retaining their controlling stake in AADI for at least one year since its listing on the Indonesia Stock Exchange (IDX) on 5 December 2024.

AADI’s share price rose 7.48% to IDR 6,825 per share on Wednesday, but since its IPO, the stock has fallen by 14.42%.

As previously reported by IDNFinancials.com, JCI closed 3.84% lower on Tuesday (18/3), hitting its lowest level since 2021. (KR/ZH)