Dec 15, 2010

Crystal buys 11.22% stake Duta Anggada

Crystal Development Pte Ltd (Singapore) bought 11.22% stake of PT Duta Anggada Realty Tbk from Focus Ventures Pte Ltd (Singapore) at Rp250 each or Rp80.28 billion.
The transaction was handled by First Asia Capital, a subsidiary of Focus Ventures, in a negotiation market on December 9.
“We have no idea for the share transaction,” President Director of Duta Anggada Ventje Suardana stated in an official statement to Indonesia Stock Exchange today.
As he explained, the information came from statement of First Asia. However, there is no statement whether Crystal Development and Focus Ventures have relation each other. On the other hand, the settlement payment was set on December 14, yesterday.
Meanwhile, the share price was down by 25% of yesterday’s closing price to Rp235, however investors responded negatively over the transaction. The DART-coded shares was closed down today 12.76% to Rp205.
Disclosure: No position at the stock mentioned above.

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