Jakarta - PT Tiara Marga Trakindo (TMT) has increased its share ownership in PT ABM Investama Tbk (ABMM) to 53.55% or 1.474 billion shares.

The increase in shares was obtained from purchasing 838.207 million shares, or 30.44% of the total issued and paid-up shares owned by VVPL. The transaction was carried out on November 17, 2021, with a purchase price of Rp1,430. Previously, TMT owned 636,366 million shares or 23.11% of the company's total issued and paid-up shares.

VVPL previously controlled 55.95% or 1.540 billion ABMM shares. With the sale, VVPL now owns 702,349 million shares or 25.51%.

"The purpose of the transaction is internal restructuring, so that there is no change in control in the company," said ABM Corporate Secretary Rindra Donovan in the IDX information disclosure on Monday (22/11).