Jul 26, 2010

Mitra Energi disposes BW Plantation

PT Mitra Energi Global has grabbed Rp13.59 billion-Rp14.39 billion from shares disposal in CPO player PT BW Plantation Tbk (BWPT).
In a public statement to Indonesia Stock Exchange (IDX), BW Plantation's Corporate Secretary Kelik Irwantono said Mitra Energi has sold 19.99 million shares into the market from July 14 to July 22 2010.
"The shares sale was held at Rp680-Rp720 per share," Kelik said.
As of December 2009, Mitra Energi Global held 3.50% stakes or 141.45 million shares in BW Plantation, PT BW Investindo owned 38,89%, Fendalton Investments Pte Ltd owned 23.33%, and PT Wahana Platinum Indonesia held 3.89%. 
CPO player BW Plantation has secured US$16 million of loan from Citibank N.A. Jakarta branch. In a public statement to Indonesia Stock Exchange (IDX), BW Plantation will use the loan facility to underpin expansion.
"We have obtained the loan facility on July 16 2010 and will mature on January 17 2911," BW Plantation's President Director Abdul Halim Ashari said.

Disclosure: No position at the stock mentioned above.  

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