Apr 27, 2010

Johan Lensa buys Intiland Development

Local brokerage house PT Minna Padi Investama yesterday crossed 8.79% shares or 456 million shares of property development PT Intiland Development Tbk (DILD) worth Rp380 billion.
The crossing transactions were done at Rp830 per share and Rp835 per share, around 20% lower than the market price level yesterday of Rp1,040 per share.
Firstly, Minna Padi crossed 304 million shares of Intiland at Rp835 per share. Secondly, it crossed 1.14 million shares at Rp830 per share.
Who is buyer for the stocks? 
A source familiar with the matter said PT Bukit Makmur Widya, a parent company owned and controlled by Indonesian stellar businessman Johan Lensa who previously controlled Indonesia's largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA).
"Bukit Makmur Widya just bought Intiland shares from one of holders. But, the transactions were done below rights issue price," the source said.
In 2009, Bukit Makmur Widya and its founder and owner Johan Lensa sold 99.99% to PT Delta Dunia Makmur Tbk (DOID) with facilitator Benny Tjokrosaputro. Johan Lensa is now one of Indonesian rich man after grabbing US$240 million of cash. 


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