Dec 8, 2010

Lazar owns 5% holding in Semen Gresik

Lazard Asset Management LLC today announced a 5% holding or 296.78 million shares in Indonesia's largest cement maker PT Semen Gresik Tbk (SMGR).
In an official statement submitted to Indonesia Stock Exchange (IDX) today, Lazar holds 679,817 shares pr 0.57% holding and 262.78 million shares or 4.43% stake in Semen Gresik.
Semen Gresik today was closed 1.57% higher to IDR9,700 per share, reflecting IDR57.54 trillion market capitalization. The stocks are traded at 16.70x price to earning ratio.
Semen Gresik has announced a plan to distribute Rp344.03 billion or Rp58 interim dividend. The company's interim dividend is 13.6% of September's consolidated net profit of Rp2.52 trillion. The dividend will be paid by the company on January 4 2011.

Disclosure: No position at the stock mentioned above.

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