Conglomerate Chairul Tanjung Allocates Rp317 Billion, Increase Share Ownership In Garuda Indonesia

Conglomerate Chairul Tanjung. (Photo: Doc. Antara)

JAKARTA - Conglomerate Chairul Tanjung through PT Trans Airways again increased its shareholding in the airline PT Garuda Indonesia Tbk. The businessman who owns CT Corp. paid hundreds of billions for this action.

As reported from Garuda Indonesia's information disclosure on the Indonesia Stock Exchange (IDX) page, Tuesday, May 11, Finegold Resources Ltd has transferred all of its shares in the GIAA-coded issuer to PT Trans Airways.

The number of shares transferred amounted to 635,739,990 shares or 635.73 million. The transaction price was Rp499 shares.

Thus, the total value of the transaction reached Rp317.23 billion and was carried out on May 6, 2021. From the transaction, Trans Airways' total shareholding in GIAA increased to approximately 7.31 billion GIAA shares or equivalent to 28.26 percent of all issued capital of the company, from the previous approximately 6.68 billion shares or equivalent to 25.81 percent.

"The status of direct shareholding," said Trans Airways President Director Warnedy.

Meanwhile, Trans Airways is a company owned by conglomerate Chairul Tanjung. For information, in the beginning, Trans Airways bought GIAA shares from three securities that acted as underwriters in the initial public offering (IPO) namely PT Mandiri Sekuritas, PT Bahana Securities, and PT Danareksa Sekuritas.

Trans Airways bought 10.88 percent of GIAA shares for Rp620 per share in 2012. The price is lower than the selling price at the time of the IPO, which is Rp750 per share.

At the close of trading on Monday, May 10, GIAA shares parked at a level of Rp320 per share, unchanged from the previous trading.