Conglomerate Low Tuck Kwong Raises Rp600 Million From Selling 20,000 Shares Of Bayan Resources Coal Company Of His Own

Illustration. (Photo: Unsplash)

JAKARTA - Conglomerate Low Tuck Kwong has twice sold shares of PT Bayan Resources Tbk (BYAN) this month. The most recent sales transaction was carried out by the owner of the coal mining issuer on July 12, 2022.

In an information disclosure on the Indonesia Stock Exchange website, quoted on Tuesday 19 July, Low Tuck Kwong said that he had sold 20,000 shares of Bayan Resources on that date. He sells at a price of Rp. 30,000 per share.

This means, Low Tuck Kwong received fresh funds worth Rp600 million from the sale of the shares.

"The number of shares and the percentage of share ownership before the transaction was 2,037,600,330 shares or 61.13 percent and after the transaction was 2,037,580,330 shares," wrote Low Tuck Kwong's explanation.

In the announcement, he stated that the sale of shares was carried out for the purpose of divestment.

The same thing was conveyed by Low Tuck Kwong when he sold 60,000 BYAN shares on July 7, 2022. At that time, Low Tuck Kwong sold at a price of Rp. 30,000 per share or a total value of Rp. 1.8 billion.