JAKARTA - PT Sanggraha Nusa Raya (SNR) sold more than half of its shares in PT First media Tbk (KBLV). The company reduced KBLV's share portion from 6.8 percent to 2.8 percent.
The number of SNR ownership for KBLV was initially 118.925 million shares or 6.8 percent. After the transaction, the company only left 49.24 million shares or approximately 2.8 percent.
Quoting information disclosure, Friday, July 18, the company sold 69.69 million KBLV shares at a price of IDR 50 per share. If calculated, the company gets IDR 3.48 billion from the sale.
The transaction was carried out on July 10, 2025, with direct share ownership status. The purpose of the transaction is only to change the portfolio.
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As is known, PT First Media Tbk is an Indonesian public company listed on the Indonesia Stock Exchange. Currently, its main business is in the mass media industry and content creation, both information, entertainment and others through a number of subsidiaries.
Previously, the company also provided broadband internet services, cable television and data communication which were overall introduced as "Triple Play". The service has since 2011 been run by its subsidiary, PT LinkNet Tbk, although it still uses the First Media trademark.
The sale of all LinkNet shares to Axiata in 2022 made the company shift its business focus to content production. The majority of the company's shares are still controlled by entities affiliated with Lippo Group.
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