Sep 2, 2010

BNP offers Intiland at Rp529-Rp590

Shareholders of publicly listed property developer PT Intiland Development Tbk (DILD) are seeking US$138 million from the sale of shares.
PT Permata Ratna Mulia, PT Cakrawala Persada Gemilang, and PT Cempaka Andalan Kharisma plan to sell 2.11 billion shares at between Rp529-Rp590 per share, according to the sale document. BNP Paribas is managing the transaction.
A source familiar with the matter said BNP Paribas initiated the shares book building this evening. Intiland stocks now climb 1.52% to IDR670 per share. Considering the price offer, the stocks will be offered at 11.94%-21% discount to the current market price.

Disclosure: No position at the stock mentioned above.

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