Gudang Garam (GGRM.JK) Injects IDR1 Trillion to Support the Development of Dhoho Airport

Gudang Garam (GGRM.JK) Injects IDR1 Trillion to Support the Development of Dhoho Airport investasimu.com

Photo: Gudang Garam

PT Gudang Garam Tbk. (GGRM.JK) reports that the Company has raised the capital of its subsidiary, PT Surya Dhoho Investama (SDHI) IDR1 trillion by acquiring 1,000,000 additional new shares issued by SDHI. Thus, the capital of SDHI will increase from IDR5 trillion to IDR6 trillion.

The transaction has been approved on 17 September 2021 and stated in the deed of amendment to the articles of association of SDHI. The Company states that the additional capital will be carried out gradually. The initial payment of IDR100 billion will be made on 20 September 2021 while the rest will be done no later than December 2021.

SDHI, owned by the Company with 99.99% ownership, was established to build Dhoho Airport in Kediri, East Java. The Company states that the raised capital was carried out to support the continued development of the Airport.

For information, the Company has reported an increase in its revenue in the first half of 2021. The revenue has increased 12.9% YoY to IDR60.6 trillion. However, the Company has recorded a 39.5% YoY decrease in its net income to IDR2.3 trillion.  

In the trading session on Friday, 17 September 2021, GGRM's share was closed at a level of IDR31,850 per share. Since the beginning of this year, GGRM's share price has decreased by 22.32%.

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