Sido Muncul Has New Shareholders. What's the Impact?

By Editorial Team 05/02/2021
Summary

Affinity Equity Partners, an investment company operating in the Asia Pacific, acquired a 21 percent stake in PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO). On Wednesday (2/3), there was a crossing transaction of SIDO shares in the negotiation market worth Rp 4.54 trillion.

Sido Muncul's President Director David Hidayat said the stock crossing was part of a strategic agreement between Affinity and Sido Muncul's holding company, PT Hotel Candi Baru. "Affinity has converted bonds into shares," he continued.

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