Dec 8, 2010

Indocement sold at IDR16,000-IDR17,000

A foreign institutional today has initiated a shares placement of Indonesia's second largest cement maker PT Indocement Tunggal Prakarsa Tbk (INTP) worth IDR960 billion-IDR1.02 trillion.
A local fund manager said the seller has mandated Macquarie Securities as placement agent for 60 million shares or 1.6% holding at Indocement.
"Indocement shares are offered at IDR16,000-IDR17,000 per share," he said. Indocement today is closed to IDR17,000 per share, a 2.41% higher than yesterday closing level.

Disclosure: No position at the stock mentioned above.  

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