Danantara Restructures WIKA as It Sells Stake in Subsidiary

PT Wijaya Karya (Persero) Tbk (WIKA) has transferred its entire shareholding in PT Wijaya Karya Industri Energi (WINNER) to PT Wijaya Karya Rekayasa Konstruksi (WIKA REKON). The related-party transaction took place on 21 October 2026.

According to a disclosure to the Indonesia Stock Exchange (IDX), WIKA was the seller, WINNER the company whose shares were the subject of the transaction, and WIKA REKON the buyer. The shares transferred comprised 50,917,600 WINNER shares, equivalent to 44.18% of its total issued shares, for Rp641,000,000.

Before the transaction, WIKA held 44.18% of WINNER, while WIKA REKON owned 55.82%. WIKA also held a 98.94% stake in WIKA REKON, making it the controlling shareholder; the transaction was therefore classified as a related-party transaction.

Management said the divestment formed part of WIKA Group’s streamlining programme to optimise its investment portfolio.

“The transaction is part of WIKA Group’s streamlining programme to optimise its investment portfolio and simplify the company’s ownership structure in its subsidiaries,” management said on Monday (26 October 2026).

The transaction is in line with the company’s 2026 Work Plan and Budget (RKAP) and is expected to improve governance effectiveness and business coordination across the group. It will also provide the company with proceeds of Rp641 million from the share transfer.

The move also follows directions from PT Danantara Asset Management, WIKA’s majority shareholder.

WIKA said the transaction involved no conflict of interest, was conducted in accordance with fair business practices and did not harm the interests of public shareholders.