Local brokerage PT Ciptadana Securities keeps buying shares of CDMA-based operator controlled by Bakrie Group PT Bakrie Telecom Tbk (BTEL).
In share holders' data submitted to Indonesia Stock Exchange, as of June 30 2010, Ciptadana Securities is recorded to hold 5.35% stakes or 1.52 billion shares in Bakrie Telecom.
The size increased from the last position on May 31 at 5.32% stakes or 1.516 billion shares. Ciptadana was recorded to hold 5.31% stakes or 1.511 billion shares in Bakrie Telecom at the end of April 2010.
"I don't have any certain information about Bakrie Telecom shares. I think we hold the shares for our client purpose," Ciptadana's President Director Ferrt Budiman Tanja today.
Considering the size, he said, it might be repurchase agreement (repo) transaction. Besides Ciptadana Securities, Credit Suisse Singapore Branch S/A Bright Ventures Pte Ltd holds 8.08% stakes or 2.30 billion shares. PT Bakrie & Brothers Tbk (BNBR) controls 16.85% stakes or 4.80 billion shares.
Based on Bloomberg, Bakrie Telecom today is closed up 1.22% to Rp166 per share, making its market capitalization of Rp4.73 trillion. Price to earning ratio is 48.13 folds.
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