Dec 5, 2010

Delta Dunia, after loan replacement

Northstar Tambang Persada Pte Ltd, controlling shareholder of PT Delta Dunia Makmur Tbk (DOID) with 40% holding, on last Friday had transferred the holding to a British Virgin Islands-based company dubbed Northstar Tambang Persada Limited.
The shares transfer was done by two crossing transactions via two local brokerages PT Semesta Indovest and PT Danareksa Sekuritas at par price or Rp1.100 per share, reflecting Rp2.99 trillion deal.    
In an official notification letter from two different entities of Northstar Tambang Persada to the management of Delta Dunia, parent company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), Northstar revealed that the shares transfer is intended for internal restructuring. 
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Disclosure: No position at the stock mentioned above.

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