Astra Subsidiary, United Tractors Acquires 19.9 Percent Shares Of Australian Nickel Company

Cooperation (Photo: dock. unsplash)

JAKARTA - Astra Group Company, PT United Tractors Tbk (UNTR) through its entity PT Danusa Tambang Nusantara (DTN) has entered into a subscription agreement for shares in the Australian nickel mining company, Nickel Industries Limited.

In the agreement, DTN took over as much as 857 million shares or the equivalent of 19.99 percent of Nickel Industries Limited' total shares, at a price of 1.10 Australian dollars per share and a total of 942.7 million Australian dollars or equivalent to Rp9.31 trillion.

UNTR Corporate Secretary Sara K Loebis said all preliminary requirements in the subscription agreement had been fulfilled by each party.

"DTN has completed payments to Nickel Industries Limited which has issued new common shares at a price per share, and a total value of the total as stated," Sara said, quoting Antara.

Thus, starting September 21, 2023, Sara explained that DTN has become a shareholder in Nickel Industries Limited of 857 million shares or equivalent to 19.99 percent of the total shares issued by Nickel Industries Limited.

The acquisition of the nickel company's shares is part of the company's commitment to reduce dependence on coal commodities, which the company hopes to reduce dependence on new businesses within the next seven to eight years.

Based on trading data as of 14.45 p.m., UNTR's share price rose 0.35 percent to the level of IDR 28.425 from the closing price level on Thursday (21/09) IDR 28.325 shares. At the beginning of trading, UNTR shares were in the red zone with a low level of IDR 28.250 per share.

The trading volume of shares was recorded at 1.52 million with a transaction value of IDR 43.22 billion, and the trading frequency was recorded at 2.710 times and market capitalization was valued at IDR 106.03 trillion.