Jakarta –
BUMN Minister Erick Thohir revealed the progress of the divestment of shares in PT Vale Indonesia Tbk. According to Erick, MIND ID has reached an agreement on the share price.
Erick said Vale’s share price would be announced after the signing between the two parties.
“Vale has done it. Hopefully they have found the numbers, but let’s make an announcement later, there will be a signing,” said Erick after attending the BUMN Next Gen 2024 event at City Hall Pondok Indah Mall 3, South Jakarta, Tuesday (13/2/2024).
From the start, Erick asked Vale Indonesia to release shares to MIND ID at a special price below the market price. If Vale still maintains a high share price, then Vale will have to relinquish some of its rights to mining land.
“It’s not that I don’t like Vale, no. My principle is that professionalism in stock negotiations is also professional like Vale,” said Erick.
Vale itself has agreed to release 14% of its shares to MIND ID. Most of Vale Indonesia’s shares are owned by Vale Canada Limited (Ltd) with a portion of 43.79%, then MIND ID 20% and Sumitomo Metal Mining Co. Ltd. 15.03%.
Then, shares in the community/public are 21.18%, consisting of foreign investors 59.47% and national investors 40.53%. With this divestment, MIND ID will pocket 34% of Vale Indonesia’s shares.
(aid/hns)
2024-02-13 15:19:20
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