Nov 2, 2010

Rich Enterprises unloads ASIA at Rp80

Rich Achieve Enterprises Limited, a limited company established under Hong Kong law, today reports 200 million shares disposal in PT Asia Natural Resources Tbk (ASIA) to implemen business strategy.
In an official statement to Indonesia Stock Exchange (IDX) today, Rich Enterprises sold the shares at Rp80 per share, enabling the company bag Rp16 billion cash.
According to the company, Rich Enterprises sold the shares on October 22 to October 26 2010, leaving its ownership at 27.67% or 629.50 billion shares.
ASIA is traded at IDR96 per share, fell 4% from yesterday's closing level, leaving price to earning ratio of 75.59x.

Disclosure: No position at the stock mentioned above.
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