Emtek Sends Positive Signals to Bukalapak Shareholders
PT Kreatif Media Karya (KMK), a business entity of PT Elang Mahkota Teknologi Tbk (Emtek Group), increased its stake in PT Bukalapak.com Tbk (BUKA) on June 6. KMK is the controlling shareholder of BUKA with 23.93 percent ownership. Referring to the disclosure filing, KMK purchased 724.3 million BUKA shares at Rp 317 per share. The total value of the transaction reached Rp 229.6 billion, or equivalent to 0.7 percent of the total outstanding shares.
After the transaction, KMK now holds 25.38 billion shares of BUKA, equivalent to a 24.63 percent stake with direct share ownership status. "The purpose of the transaction is for investment," KMK said in the disclosure. Apart from KMK, other BUKA shareholders are API (Hong Kong) with 13.44 billion shares or 13.05 percent, followed by Archipelago Investment (GIC Singapore) with 9.73 billion shares or 9.45 percent.