JAKARTA – Tolaram Inc, a Singapore-based company, divested 53.682% of its shares in PT Bank Amar Indonesia Tbk (AMAR) due to the adjustment of the maximum limit of ownership in the company. The divestment was carried out during the period of 15-22 January 2020.
As quoted from the company’s disclosure, Navin Nahata, Director of Tolaram Inc. said that the shares were sold at a price of around Rp 174 per share. After the divestment, the number of AMAR shares owned by Tolaram is 2,410,530,000 shares (30%).
The company earned Rp 1.17 trillion from the divestment
Source: IDN Financials | 23 January 2020