Jakarta - PT Krakatau Steel Tbk (KRAS) increased its equity participation in PT Krakatau Wajatama (KWT) by investing in the company's shares in PT KHI Pipa Industries (KHI) and PT Krakatau National Resources (KNR).

"The value of the additional capital investment is Rp987.12 billion," said Corporate Secretary of KRAS Pria Utama in the IDX information disclosure on Monday (13/9).

The purpose of the transaction is to support portfolio structuring to optimize the company's business and strengthen the steel solutions business through more intensive coordination within one entity.

In addition, it also encourages increased independence and agility in developing steel solutions business through strengthening downstream products.

With this transaction, there was a change in the company's share ownership in KHI and KNR from 99.50% to 0.001%.

PT KWT is a KRAS business entity with a share ownership percentage of 99.99%.