Saratoga Acquires 121.76 Million MDKA Shares for $10.9 Million
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JAKARTA, investortrust.id – PT Saratoga Investama Sedaya Tbk, or SRTG, has reinforced its position as a controlling shareholder in PT Merdeka Copper Gold Tbk, or MDKA, by acquiring 121.76 million shares.
The investment firm, co-founded by Sandiaga S Uno, Edwin Soeryadjaya, and PT Unitrans Pratama, purchased the shares at Rp 1,405 per unit on March 5, 2025. The transaction amounted to Rp 171.76 billion ($10.9 million).
"This acquisition is aimed at direct stock investment," the company stated in its official disclosure to the Indonesia Stock Exchange (BEI) on Wednesday, March 12, 2025.
Following this purchase, Saratoga's ownership in MDKA increased by 0.5 percentage points, rising from 19.58% to 20.08%. With Saratoga’s stock priced at Rp 1,290 during intraday trading on BEI’s first session today, its MDKA holdings are now valued at approximately Rp 6.33 trillion ($403 million).
Expanding Portfolio Through IPO Plans
Earlier, Saratoga Investama announced plans to take four of its subsidiaries public through initial public offerings (IPO) on the Indonesia Stock Exchange.
Devin Wirawan, Investment Director of Saratoga, stated that the company still holds numerous private enterprises, including MGM Bosco Logistics, Surya Energi, ZAP Clinic, and Brawijaya Hospital, which are slated for IPO.
"MGM Bosco Logistics is one of the largest logistics companies in Indonesia. Surya Energi is a leading solar energy firm. Meanwhile, ZAP Clinic, a skincare clinic chain, operates over 120 locations, and Brawijaya Hospital was one of our key investments in early 2024," he explained.