Kaesang Buys Shares of Frozen Shrimp Exporter Company Rp 92 Billion

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Kaesang Buys Shares of Frozen Shrimp Exporter Company Rp 92 Billion
Kolase Foto/Ilustrasi/Istimewa

OnlyTheBestChoice – PT Harapan Bangsa Kita aka GK Hebat, a company owned by Kaesang Pangarep, bought 188,240,000 shares or 8 percent of PT Panca Mitra Multiperdana Tbk (PMMP). The purchased share price is Rp 490 per share, so that the total purchased by GK Hebat is worth Rp 92.23 billion.

GK Hebat is a Kaesang company that oversees a number of brands such as The Banana, Yang Ayam, Ternakopi, Let’s Toast, to Enigma Camp.

Quoted from the disclosure of information of the Indonesia Stock Exchange (IDX), the transaction was conducted on November 8, 2021. The PMMP shares were purchased by GK Hebat from PT Tiga Makin Jaya. The purpose of this transaction is strategic cooperation.

PT Tiga Makin Jaya is the controlling shareholder of PMMP. After this transaction, PT Tiga Makin Jaya’s shares in PMMP were reduced from 1,200,000,000 shares or 51 percent to 1,011,760,000 shares or 43 percent.

Quoted from its official website, PMMP is one of the leading shrimp processors and exporters in Indonesia. Established in 2004, PMMP is headquartered in Surabaya.

The company has processing plants in Situbondo and Tarakan, with a total production capacity of 25,000 tons per year combined with 46,000 tons of cold storage facilities.

In 16 years, PMMP has become the leading shrimp exporter in Indonesia, ranking 2nd largest by total shrimp export volume in 2019. PMMP has exported shrimp to all major markets around the world such as the United States (US), Japan, Europe, and others. [*]