Thai Conglomerate Frederick Chavalit Tsao Increases Shareholding In PSSI, Pours This Much Money

Thai conglomerate Frederick Chavalit Tsao. (Photo: Doc. The Peak Magazine)

JAKARTA - The conglomerate from Thailand, Frederick Chavalit Tsao, has again increased its share ownership in the shipping company PT Pelita Samudera Shipping Tbk (PSSI). In the information disclosure of the Indonesia Stock Exchange (IDX), quoted on Tuesday, October 5, Frederick Chavalit bought 1.4 million shares or 0.0258 percent of the company's total shares.

With this share purchase, Frederick Chavalit currently holds 90.7 million shares owned by PSSI or 1.6743 percent of the company's total shares. Previously, Tsao owned 89.3 million shares or 1.6485 percent shares in PSSI.

"The purpose of this transaction is an investment", said Frederick Chavalit.

Even so, it was not disclosed how much the purchase value by Frederick Chavalit was. This transaction was carried out on the IDX regular market on September 7-10 and 13, 2021.

Previously, in March, Frederick Chavalit had bought 5.09 million shares of PSSI. The purchase made its ownership increase by 54.10 million shares or 0.99 percent at that time.

Besides Frederick Chavalit, PSSI President Director Iriawan Ibarat also added his shareholding in PSSI. Iriawan bought 1.5 million PSSI shares in stages, on 10 September 3 and 10, 2021.

With this purchase, Iriawan currently holds 8.5 million PSSI shares or 0.1569 percent of the company's total shares. Similar to the transaction carried out by Frederick Chavalit, Iriawan did not mention how much the PSSI share purchase was worth.

PSSI's share price on Tuesday, October 5 at 10:10 WIB was observed to be at the level of IDR 310. If you use this price, it is assumed that Frederick spent IDR 434 million for this action.