Nov 11, 2010

IME grabs Rp1.9 trio from INDY sale

Controlling shareholder of PT Indika Energy Tbk (INDY), PT Indika Mitra Energy (IME), has placed 10% stake or 520,71 million shares in Indika Energy to several investors at Rp3,675 per share.
Citi and J.P.Morgan Securities have placed and closed the shares sale. J.P.Morgan has transferred the shares via crossing transaction today.
From the shares placement, IME will bag Rp1.91 trillion. "The shares sale is intended to improve stocks liquidity. Crossing has been held today aty Rp3,675/share," Indika SVP Investor Relations Retina Rosabai told Insider Stories. 
Indika on May 17 2010 announced an internal shareholding restructuring. PT Tunas Bhakti Manunggal sold its entire stake of 17.12% in Indika Energy to IME.
Post restructuring, IME controls 73.11% in Indika. Following the shares sale, IME now controls 63.11% stake in Indika Energy.
Indonesia tycoons Wiwoho Basuki Tjokronegoro and Agus Lasmono remains the ultimate controlling shareholders in IME, also the largest controlling shareholders in Indika Energy.

Disclosure: No position at the stock mentioned above.

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