Aug 10, 2010

Barito sells 0.38% stakes in Gozco

Petrochemical and resources-based parent company PT Barito Pacific Tbk (BRPT), controlled by Indonesian tycoon Prajogo Pangestu, today reports 19 million shares of divestment or 0.38% stakes in CPO player PT Gozco Plantations Tbk (GZCO) at Rp395 per share, allowing it to snap up Rp7.51 billion of cash.
Speaking in a public announcement submitted to Indonesia Stock Exchange, Barito's Director Henky Susanto said following the shares disposal, Barito now owns 541.50 billion of shares or 10.38% in Gozco from previous level of 560.50 billion shares of 11.21%.
Barito didn't disclose the reason of the shares sale. Barito said the sale was done by a local house PT Harita Kencana Securities.

Disclosure: No position at the stock mentioned above. 

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