Oct 7, 2010

Barito & Tri Polyta, chain listing?

Indonesia Stock Exchange (IDX) is considering a potential chain listing for post merger between two petrochemical companies, controlled by PT Barito Pacific Tbk (BRPT), PT Tri Polyta Indonesia Tbk (TPIA) and PT Chandra Asri.
IDX Director Eddy Sugito said the regulator schedules to call board of directors of Barito Pacific soon to get clearer information regarding the proposed merger.
"As a holding company of both, we will invita Barito Pacific BoD to ask commitment regarding to the marger," he said.
How abot chain listing? Could Barito and Tri Polita pass the regulation?
Post merger, Barito will obtain about 95%-98% revenue contribution from Tri Polyta. But, Barito Pacific will control 66.36% stake in Tri Polyta which will change its name into PT Chandra Asri Petrochemical Tbk.

Disclosure: No position at the stock mentioned above. 

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