JAKARTA. Publicly listed consumer goods giant PT Indofood Sukses Makmur has announced that it finalized a share purchase deal worth S$13.79 million (US$10.3 million) with its Singapore-based subsidiary PT Indofood Agri Resources (IndoAgri), resulting in a bigger ownership of the subsidiary.

Indofood Sukses Makmur corporate secretary Elly Putranti said in a statement that her firm bought on Tuesday as many as 19.56 million shares of IndoAgri, priced at S$0.705 apiece.

Upon the completion of the transaction, Indofood Sukses Makmur’s direct ownership in IndoAgri rose from 1.43 percent to 2.83 percent from all shares issued by IndoAgri [without calculating treasury stocks that has been bought back by IndoAgri].

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“Henceforth, Indofood Sukses Makmmur’s total ownership in IndoAgri, both direct and indirect, has increased to 62.78 percent from 61.38 percent at May 31,” Elly said in a disclosure submitted to the Jakarta Stock Exchange on late Tuesday.

IndoAgri is a listed company at the Singapore Stock Exchange with a popular cooking oil brand called Bimoli. (Khoirul Amin)