[SMM Coal Flash] Haji Isam to Acquire 10 Billion Shares of Bayan Resources

Published: Sep 18, 2026 09:56

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Indonesian coal player PT Bayan Resources Tbk announced that Andi Syamsuddin Arsyad, also known as Haji Isam, will acquire 10.0 billion Bayan shares through PT Jhonlin Baratama. Bayan's management said the proposed transfer of the controlling shares was formalised through a Conditional Sale and Purchase of Shares Agreement signed on 16 September by company founder Low Tuck Kwong and his daughter Elaine Low. The agreement covers the proposed transfer of 10,000,000,500 ordinary Bayan shares. However, Bayan said completion of the transaction remains subject to the fulfilment of several conditions precedent.

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