INA, Silk Road Pump Rp 1.86 Tln into Kimia Farma Apotek

By Editorial Team 03/01/2023
sovereign wealth fund
Summary

PT Kimia Farma Tbk (KAEF) sold part of its shares in PT Kimia Farma Apotek (KFA) to Indonesia Investment Authority-Silk Road Fund Co Ltd joint venture worth Rp 1.86 trillion. Quoting the disclosure of information to the Indonesia Stock Exchange (IDX), Kimia Farma released some of its KFA shares to PT Akar Investasi Indonesia (AII), a joint venture between INA and CIZJ Limited (CIZJ), Silk Road Fund's subsidiary.

The sale is a continuation of the preliminary agreement between KAEF and investors on Nov 13, following the sales of 198.19 million KFA shares worth Rp 460 billion. In addition to the sales, there was a capital increase transaction through the issuance of 603.18 million new KFA shares absorbed by Akar Investasi and CIZJ worth Rp 1.4 trillion. "Considering these transactions pose as a single transaction, the total transaction value for the sales of KFA shares reached Rp 1.86 trillion," Kimia Farma's management stated Monday.

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