Jakarta - PT Indika Energy Tbk (INDY) through its business entity Indika Ventures Pte Ltd (IDV) has invested in PT Narada Sahara Kencana (ADX).

ADX is a company engaged in digital services and advertising.

"After the completion of the transaction, the company will own a 22.5% stake in ADX," said INDY Corporate Secretary Adi Pramono in an information disclosure in Jakarta on Monday (7/3).

He explained that the transaction was a strategic step for the company as one of the company's diversification strategies.

The transaction mechanism used is the conversion of IDV's debt securities dated April 24, 2020 worth Rp8 billion into 12.5% shares in ADX, as well as an investment in new shares issued by ADX worth Rp7.5 billion, or the equivalent of 10% of ADX shares.