Nov 23, 2010

Low Tuck Kwong keeps buying Bayan

It seems something is happening at PT Bayan Resources Tbk (BYAN). Dato' Low Tuck Kwong, controling shareholder in coal miner PT Bayan Resources Tbk (BYAN), keeps buying31,000 shares at Rp12,927 or Rp400.74 billion.
In an official statement to Indonesia Stock Exchange (IDX) today, Tuck Kwong purchased the stocks on November 12 2010 with investment purpose.
Post stocks purchase, Tuck Kwong holds 1.72 billion shares or 51.66% stake in Bayan Resoures.
On November 15, he also declared another purchase of 1.46 million shares at Rp12,264/share. Tuck Kwong has spent Rp17.91 billion for the stocks purchase. He bought Bayan shares during the period of November 4 2010 to November 11 2010 with investment purpose.
Post shares purchase, Tuck Kwong controls 51.66% stake in Bayan Resources.

Disclosure: No position at the stock mentioned above. 

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