Smartfren Converts IDR 500 Billion Bonds Into Shares, Dian Swastatica Owned By Conglomerate Eka Tjipta Widjaja At FREN Increases To 23 Percent

Illustration. (Photo: Doc. Antara)

JAKARTA - The mining company owned by Eka Tjipta Widjaja conglomerate PT Dian Swastatica Sentosa Tbk (DSSA), has increased its ownership in PT Smartfren Telecom Tbk (FREN). This action took place in line with the conversion of debt into shares by Smartfren.

In an information disclosure to the Indonesia Stock Exchange (IDX), Wednesday, July 13, Corporate Secretary Dian Swastatica Susan Chandra said the company's share ownership in Smartfren was 72.59 billion. This amount is equivalent to 23 percent.

"Increasing the company's share ownership in FREN through the conversion of bonds into shares," said Susan.

Prior to this conversion, Dian Swastatica's ownership in FREN reached 67.59 billion or 21.8 percent. This means that the company's additional ownership will reach 5 billion.

Previously, Smartfren's management had also announced the realization of the conversion of bonds into FREN shares. The amount is 5 billion with a nominal value of Rp.100 and an exercise price of Rp.100 per share

That way, the additional ownership of Dian Swastatica in Smartfren is equivalent to Rp500 billion.