Jakarta - PT Jasnita Telekomindo Tbk (JAST) plans to take over 252,500 shares or the equivalent of 45.45% shares of PT ITradeit.com Pte Ltd in PH1 Innovax Call Center Pte Ltd.

JAST has conducted an internal evaluation of ITradeit's financial statements and estimates the value of the share takeover transaction is around Rp12 billion - Rp14 billion or equivalent to Singapore dollars.

Following the preliminary prerequisites in the MoU, JAST will provide an advance for the purchase of ITradeit's shares of Rp5.859 billion. Furthermore, a share sale and purchase agreement will be signed between JAST and ITradeit after the appraisal process by an independent appraiser is complete.

On October 29, 2021, JAST made an advance payment to ITradeit. The next step will be due diligence.

"The estimated completion of this transaction is no later than the end of the first semester of 2022," said JAST President Director Yentoro in information d