Jakarta - PT Adaro Energy Tbk (ADRO) through PT Alam Tri Abadi (ATA) purchased 145.601 million shares of PT Cita Mineral Investindo Tbk (CITA).

"The transaction was carried out on December 14, 2021, with a value of Rp358,761 million," said Adaro Corporate Secretary Mahardika Putranto in an information disclosure submitted to the IDX on Friday (17/12).

With this transaction, ATA owns approximately 3.7% of CITA's shares.

He continued, the company has invested in CITA shares because the metallurgical grade bauxite and smelter grade alumina business is a profitable business in the long term, in line with the improvement in the global economy and rising commodity prices.

Financial investment in stock instruments carried out by the company is a financial investment activity usually carried out in treasury management.

"Currently, the company has a fairly good financial position and level of liquidity, so it has the flexib