PT Krakatau Steel (Persero) Tbk increased its share ownership in PT Kerismas Witikco Makmur through the purchase of shares owned by PT Krakatau Industrial Estate Cilegon (PT KIEC).

The company with the issuer code KRAS bought 10,160 shares of Kerimas owned by PT KIEC or equivalent to Rp41.46 billion for a 19.54% share ownership. So that the total share ownership of Krakatau Steel in Kerismas is 29.31% from the original ownership of 9.7%.

"There are two good things in this transaction. First, through increasing Krakatau Steel's share ownership in Kerismas, it will strengthen the downstream product business in line with Krakatau Steel's strategy, secondly, it relates to the restructuring of share ownership in Krakatau Steel's subsidiaries to focus on each line of business," said Krakatau Steel's President Director, Silmy Karim here. Jakarta, Thursday (10/6).

Silmy added that PT KIEC, which will soon become the parent of the Kraka