Consumer Markets

PALM Divests Stocks in ASL

Provident Agro Tbk (PALM) and Sarana Investasi Nusantara (SIN) sold all of its shares in Agrisenta Lestari (ASL) to Muko Muko Indah Lestari (MMIL) and Kiki Indriyanto for IDR 62.42 billion.

Devin Antonio Ridwan, Director and Corporate Secretary of PALM, said that the stock sales will increase the company’s funding to strengthen cash flow and capital.

PALM sold 77.05 percent or 82,750 shares to MMIL. SIN, a subsidiary of PALM, also released 22.95 percent or 25,250 shares to MMIL and one share to Kiki Indriyanto. The company states that MMIL and Kiki Indriyanto are not affiliated with the company or SIN.

On Wednesday (13/9), PALM dropped 0.52 percent to IDR 380. (*)

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Hari Widowati

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