Oct 20, 2010

Bakrieland placed at Rp167/share

One of share holders of PT Bakrieland Development Tbk (ELTY) which previously participated rights issue at Rp160/share has placed 4 billion shares or 10% stake into the market at Rp167 per share, enabling the seller to snap up Rp668 billion cash.
Arranged by CLSA last night, the book building offered 2.65 billion shares to 4 billion shares at 7.89%-12.1% discount from the closing price yesterday.

Disclosure: No position at the stock mentioned above.
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