Business · Markets · 3 hrs ago
Jhonlin Baratama Completes Purchase of 30.25% Stake in Bayan Resources
PT Jhonlin Baratama has completed the purchase of a 30.25% stake in Indonesian mining company Bayan Resources.
Jhonlin Baratama is an entity owned by Haji Isam, while the sellers were Bayan owner Low Tuck Kwong and his daughter, Elaine Low.
The transaction covered more than 10 billion shares and was recorded at Rp2,588 per share on October 8, 2026.
The sellers transferred shares in stages between September 14 and October 8.
Bayan says the ownership change does not alter its business plans, investment plans or expansion plans.
Its mining subsidiaries are operating under approved production plans and are working toward their targets.
Bayan also says it has not discussed possible business synergies with Jhonlin Baratama.
PT Jhonlin Baratama has completed the purchase of shares representing 30.25% of Bayan Resources.
The completed transaction involved 10,084,088,370 shares, according to Bayan Resources.
The reported transaction price was Rp 2,588 per share, recorded on 8 October 2026.
Bayan Resources said its business plans and capital expenditure plans remain unchanged.
The company said it had not discussed potential synergies with Jhonlin Baratama.
- Who
- PT Jhonlin Baratama bought the shares from Dato' Low Tuck Kwong and Elaine Low.
- What
- Jhonlin Baratama completed the purchase of shares representing 30.25% of Bayan Resources.
- When
- The reported transaction price was recorded on 8 October 2026; the company said the sales took place from 14 September to 8 October 2026.
- Where
- Not stated
- Why
- Not stated
This story does not have two clearly opposing sides.
Bayan Resources said Low Tuck Kwong and Elaine Low sold shares in stages during this period.
Low Tuck Kwong sold 33,333,335 shares.
Elaine Low sold 16,666,667 shares, and Low Tuck Kwong sold a further 10,067,421,703 shares.
The reported transaction price was Rp 2,588 per share.
- Buyer
- PT Jhonlin Baratama
- Stake acquired
- 30.25% of Bayan Resources
- Shares in completed transaction
- 10,084,088,370
- Reported price
- Rp 2,588 per share
- Price recorded
- 8 October 2026
What people are saying
To date, there have been no discussions between the Company and PT Jhonlin Baratama regarding potential synergies between the Company and PT Jhonlin Baratama.
Sources
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