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Salim acquires major MTLA shares, follows Ciputra’s actions
Salim Group becomes one of the new biggest shareholders of PT Metropolitan Land Tbk. or Metland (MTLA), following similar step done by another household tycoon Ciputra Group at the end of last year.
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Indofood president director Anthoni Salim (tribunnews.com/File)
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alim Group, one of Indonesia’s biggest conglomerates, has acquired shares of PT Metropolitan Land, or Metland (MTLA), following in the footsteps of another property developer Ciputra Group at the end of last year.
The group, led by business magnate Anthoni Salim, bought 388.6 million shares in Metland on July 28 via Indolife Pensiontama, Salim’s asset management subsidiary, according to data issued by PT Kustodian Sentral Efek Indonesia (KSEI).
The acquisition also makes Salim Group one of the biggest stockholders of Metland, with a 5.08 percent portion of shares. This number, however, is still below Ciputra’s 11.4 million shares.
PT Ciputra Development (CTRA) recorded 15 percent of Metland’s shares at the price of Rp 367.44 billion (US$24.67 million), or Rp 320 per share, in November 2021 through its subsidiary PT Ciputra Nusantara.
At the time, Ciputra’s management said the buying price was undervalued despite Metland having maintained excellent performance due to prospective landbanks and a solid management team.
As for Salim Group, the management has yet to comment on its acquisition of Metland’s shares. However, the action comes naturally as Metland continues to expand its property business amid sluggish domestic demand.
Financially, Metland achieved 39 percent year-on-year (yoy) growth in presales and marketing sales in the first half of this year.
