Anthoni Salim raises interest in Gallant Venture to 73.1% via off-market deals

Sharanya Pillai
Published Tue, Sep 6, 2022 · 11:05 PM

INDONESIAN magnate Anthoni Salim on Tuesday (Sep 6) raised his deemed interest in mainboard-listed Gallant Venture : 5IG 0% to 73.1 per cent, after an entity linked to him purchased 397 million shares in the company.

The disclosure came after Gallant Venture soared 9.3 per cent in Tuesday’s early trade, on the back of 2 married deals – where shares were purchased at volumes of 157,000 and 240,000.

In a filing after trading hours, it was revealed that an entity called River Point Ventures had purchased 397 million shares of Gallant for S$50.02 million via off-market transactions. This translates to an average purchase price of S$0.126 per share.

River Point is controlled by another entity called Smart Head Assets. In turn, Salim has an interest of over 50 per cent in Smart Head. Through River Point’s purchase, Salim’s deemed interest in Gallant rose from 65.8 per cent to 73.1 per cent.

Gallant Venture rose by as much as S$0.012 to hit S$0.141 as at 9.23 am on Tuesday, after some 398.2 million securities were traded. It later eased down to close at S$0.128, down 0.8 per cent or S$0.001 from the previous day.

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