PT United Tractors Tbk (UNTR) has raised its investment in PT Danusa Tambang Nusantara (Danusa), a mining holding company since 2015. Sara K. Loebis, Corporate Secretary of UNTR, said that the company has taken over 240 thousand new shares issued by Danusa. On top of this, PT Pamapersada Nusantara (PAMA), one of UNTR’s subsidiaries, also acquires 160 thousand new shares of Danusa.

This capital raise had been approved by the Ministry of Law and Human Rights. After raising its stock portion, UNTR now has a claim over 1,168,959 shares of Danusa, approximately 60% of the total shares, whereas PAMA secures another 779,306 shares of Danusa or 40%. “The purpose behind this increased investment in Danusa is to channel extra working capital for operational needs of Danusa,” Loebis said. According to IDN Financials data, Danusa recorded total assets before elimination worth IDR 26.13 billion until December 31, 2022. Meanwhile, PAMA’s total assets clocked up to IDR 81.97 billion.

Source: https://www.idnfinancials.com/news/46676/untr-increase-investment-mining-holding