PT AKR Corporindo Tbk (AKRA) injects capital into its subsidiary, PT Anugerah Krida Retailindo (AKRIDA), amounting to Rp28 billion.

Director of AKR Corporindo Jimmy Tandyo said the transaction was carried out on July 13, 2021, by signing the deed to increase the issued and paid-up capital.

"To increase the capital and paid-up AKRIDA in the amount of Rp28 billion and fully paid up by the company," he said in information disclosure on Friday (16/7).

AKRIDA will use the additional capital to support the activities of its subsidiaries or the capital of AKRIDA's subsidiaries.

After the transaction, AKR Corporindo owns a 99.99% stake in AKRIDA, while PT AKR Niaga Indonesia holds the other 0.01%.