Indonesia's INA, China's Silk Road Fund pick up 40% stake in Kimia Farma Apotek for $120m

Indonesia's INA, China's Silk Road Fund pick up 40% stake in Kimia Farma Apotek for $120m

Photo: Company website

Indonesia’s sovereign wealth fund (SWF) INA and China’s Silk Road Fund (SRF) are picking up a 40% stake in Indonesian state-owned pharmaceutical company PT Kimia Farma’s subsidiary, Kimia Farma Apotek, for 1.86 trillion rupiah ($120 million), according to a statement on Sunday.

Kimia Farma Apotek will use the money for business expansion and working capital, the statement added.

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