Astro Media Indonesia Downsizes Ownership In Laguna Cipta Griya

Jakarta — PT Astro Media Indonesia re-discharged its ownership at PT Laguna Cipta Griya Tbk to only 11.58%.

Based on its disclosure to Indonesia Stock Exchange, Astro Media sold 10.5 million shares at IDR61 per stock on September 3. The divestment is only temporary, said Astro Media’s Director Edy Sarwanto.

Laguna Cipta is a property developer who is currently constructing 77.16 hectares land in Palembang by its unit PT Dian Sakti. The company also owns an under construction 4.16 hectares land in Cilegon.

At the end of June, PT Astro Media Indonesia managed 18.69% of the LCGP-coded company. Astro Media once divested 115 million shares on August 14 at IDR63 per stock.

Laguna Cipta is planning to conduct rights issue to pocket IDR365.95 billion. The potential fund will be used as equity of its joint operating (KSO) at Langsa oil and gas block in East Aceh as an operator.

Blue Sky Langsa Ltd will be the standby buyer and potentially manage up to 70% if other shareholders do not execute their rights.

As written on its unaudited financial report in the first half, LCGP booked IDR1.02 billion net loss, increased from IDR371.47 million in the same period last year.[]


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