Oct 19, 2010

Prudent still owns 13.45% Multistrada

It is very clear that Prudent Capital hasn't disposed 13.45% stake or 824 million shares in tire maker PT Multistrada Arah Sarana Tbk (MASA).
So, when the local newspapers are frenzy to report that Prudent Capital has sold stake in Multistrada at Rp300 per share, for sure, it is a market rumor.
Look at an official announcement made by PT Buana Capital filed to Indonesia Stock Exchange (IDX) today. Buana Capital Head of Custodian Zainal Arifin said the brokerage has received Multistrada stake belong to Prudent Capital on October 11 2010.
A source familiar with the matter said Prudent Capital, one of Multistrada's share holder, had transferred stake from previous custodian dubbed PT Trimegah Securities Tbk to Buana Capital.  

Disclosure: No position at the stock mentioned above.

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