Jakarta - PT Buyung Poetra Sembada Tbk (HOKI) released 79,821 shares, or 99.99%, in PT Astha Beras Perkasa (ABP) to PT Ricena Investama Cemerlang (RIC).

Based on the disclosure of HOKI information on Friday (12/30), the transaction value was Rp79.9 billion.

By divesting its ownership in ABP, the company expects additional funds to be available to increase its growth.

In addition, the company will be able to run its operations more smoothly and freely and have access to additional working capital for the company's business development.

ABP is engaged in wholesale rice trading, hybrid rice farming, motorized transport for general goods, and other management consulting activities.

Meanwhile, RIC is engaged in trade, industry, land transportation, workshops, printing, agriculture, and services.