AKRA - Major shareholder acquires 6.32 mn AKRA shares

AKRA - Major shareholder acquires 6.32 mn AKRA shares Amidst the downward pressure on AKR Corporindo's (AKRA) stock price, Arthakencana Rayatama, the company's majority shareholder and controller, has taken advantage of the situation to increase its ownership. On 18 and 21 August 2023, Athakencana Rayatama acquired 6.32 mn AKRA shares, equivalent to 0.03% of the total shares currently available, at an average price of IDR1,294.62 per share. This acquisition cost around IDR8.18 bn. The purchase is intended as an investment with direct ownership of shares. Following these acquisitions, Arthakencana Rayatama's ownership stake in AKRA has increased to 59.74%, further solidifying its position as a major shareholder. Despite a 10.2% yoy drop in revenue in 1H23 yoy, AKRA's net profit increased by 7.8% yoy to IDR1 tn, resulting in a rise in EPS to IDR52.23 from IDR48.41.(Source : Kontan)