Jakarta - PT Saratoga Investama Sedaya Tbk (SRTG), through PT Saratoga Sentra Business (SSB), released 1.77 billion shares of PT Provident Agro Tbk (PALM).

"The transaction was carried out on July 15, 2022, at a selling price of Rp825 per share, and July 20, 2022, at a price of Rp660 per share," said the Legal Division and Saratoga Corporate Secretariat, Juan Akbar Indraseno, as quoted in the information disclosure on Friday (7/22).

According to Juan, the purpose of the Provident share sale transaction is simply divestment.

With this transaction, Saratoga's indirect ownership in PALM became 1.41 billion, or equivalent to 19.88% of the total issued and paid-up capital of PALM, from the previous 3.194 billion shares, or equivalent to 44.88%.