PT Bank Maybank Indonesia Tbk has sold 37 million shares of PT Wahana Ottomitra Multiartha Tbk (WOMF) at Rp254 per share.

"The share sale transaction was carried out on March 24, 2021," said Director of WOM Finance, Zacharia Susantadiredja, in the IDX disclosure on Monday (29/3).

With this transaction, Maybank Indonesia expects to raise around Rp939.8 billion in fresh funds.

Based on IDX data, Maybank Indonesia controls around 68.55% or the equivalent of 2.386 billion shares of WOM Finance, PT Wahama Makmur Sejati owns 25.007% or 870 million shares, and the public is 6.441% or 224.234 million shares.

At the end of 2020, WOM Finance recorded a profit for the year of around Rp. 57,378 billion, down 77.90% from the previous year, which reached Rp. 259,671 billion. The trigger is the low-income achievement of around 24.32%, from Rp2.643 trillion to Rp2 trillion.

The company's total assets were at Rp5,283 trillion or a drain of 36.12% from Rp8,271 trillion, with total cash and cash equivalents of around Rp636,038 billion.