Low Tuck Kwong Conglomerate Digs Into Pocket Again, This Time Almost IDR 7 Billion Adds Shares In Bayan Resources

Conglomerate Low Tuck Kwong. (Photo: Doc. Forbes)

JAKARTA - Dato 'Low Tuck Kwong continues to increase his share ownership in PT Bayan Resources Tbk (BYAN). Low Tuck Kwong, who is the President Director of Bayan Resources, recently added 563,800 BYAN shares.

Bayan Resources is one of the coal mining companies listed on the Indonesia Stock Exchange (IDX). Quoted from the IDX website, Tuesday, March 16, Low Tuck Kwong reported the purchase of 563,800 BYAN shares for IDR 12,368.15 per share.

As a result, the 25th richest person in Indonesia spent Rp6.97 billion. This transaction, which was carried out on March 8, 9, and 12, 2021, is intended for investments with direct ownership status.

After this transaction, the ownership of this man who is also the controlling shareholder of BYAN increased. Previously he narrowed 1,823,309,830 shares or the equivalent of 54.70 percent, and now it is 1,823,873,630 shares or 54.72 percent.

Some time ago, the 72-year-old man also reported the purchase of IDR 1.2 million shares of Bayan Resources. Low Tuck Kwong bought BYAN's shares for IDR 12,927.48 per share, with a total purchase value of IDR 15.5 billion.

Previously, on February 15, 2021, this tycoon also announced the purchase of BYAN shares. He announced the purchase of 9,300 Bayan Resources shares at a purchase price of IDR 14,062.37, and Low Tock Kwong poured out IDR 130.78 million for this action.

For information, at the close of trading on Tuesday, March 16, BYAN's shares were at the level of IDR 13,000, not moving from the previous day's closing.