JAKARTA. PT. Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) releases 21% share to Affinity Equity Partners. The share acquisition was carried out through crossing transactions in the negotiation market on Wednesday (2/3) with an estimated value of IDR 4.54 trillion.
Sido Muncul President Director David Hidayat explained that the strategic partnership between Affinity and PT Hotel Candi Baru – SIDO’s holding company – had been going on for 3 years through its affiliation, namely Concordant Investment Pte Ltd. He explained that by crossing shares from SIDO’s parent company, Affinity owns 21% stake in Sido Muncul or equivalent to 6.3 billion shares.
David hopes this strategic partnership with a leading private equity investor in Asia will have a positive impact on Sido’s growth, particularly through strategic thinking. “Positive impacts are also expected to be realized through cooperation with several Affinity partners in Asia Pacific,” he said as quoted by Bisnis on Wednesday (2/3).
With the share acquisition, the current composition of SIDO shares is 60.98% (18.59 billion shares) owned by PT Hotel Candi Baru, 21% (6.3 billion shares) owned by Affinity, and 19% or 5.7 billion shares owned by the public.
Source: IDNFinancial | 3 Feb 2021