GEM sell shares to Citra Alam Jaya
Wednesday, May 21 2014 - 12:47 AM WIB
By Romel S. Gurky
IDX-listed mining firm PT Golden Energy Mines Tbk (GEM) announced on Tuesday it has sold 1,990 shares in subsidiary PT Bumi Anugerah Sumatra (BAS) to PT Citra Alam Jaya (CAJ).
PT Kuansing Inti Makmur (KIM) has also sold 10 shares in BAS to CAJ, according to the firm.
Each of the shares is valued at Rp 1,000,000.
Following the transactions, CAJ now holds 2000 shares or 20 percent of BAS, while GEM holds the remaining 8000 shares or 80 percent.
GEM set up BAS last year as subsidiary engaged in trading and gas supply.
Editing by Johannes Simbolon