Jun 21, 2010

Jamsostek ready to buy Bukopin in July

State-owned company PT Jamsostek is ready to buy 20% stakes of PT Bank Bukopin Tbk. Following the plan, Jamsostek has mandated PT Mandiri Sekuritas as financial advisor.
Jamsostek's President Director Hotbonar Sinaga said the company aims to acquire Bank Bukopin's stakes owned by Yanatera Bulog and Indonesian government which might not use their rights during the bank's rights issue.  
"We ensure to be standby buyer during Bukopin's rights issue by providing Rp500 billion in cash to buy Bukopin shares in July," he said as reported by Bisnis.com today.
By holding shares in Bukopin, Jamsostek plans to utilize the bank's network to underpin its expansion. Bank Bukopin is 42.71% stakes controlled by Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo), Koperasi Perkayuan Apkindo by 6.7%, Yayasan Bina Kesejahteraan Warga Bulog of 12.19%, Indonesian government of 17.23%, and public shareholders of 20.99%.

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