Bisnis.com, JAKARTA — Dairy magnate Sabana Prawirawidjaja continues to tighten his grip on milk producer PT Ultrajaya Milk Industry & Trading Company (ULTJ) as the stock continues its downward slide.
As of Wednesday morning (23/7), ULTJ has slipped 29.12% year-to-date (YtD) to IDR 1,290. According to the Indonesian Central Securities Depository (KSEI), Sabana took this slump as an opportunity to purchase 600,000 ULTJ shares on the same day, bringing his total shareholding up to 5.49 billion shares (52.88% stake).
