Dec 13, 2010

Nusantara Infrastructure soars 17.54%

Toll road operator PT Nusantara Infrastructure Tbk (META) today surged 17.54% to IDR335 per share on market speculation that Rajawali Group might inject it with other assets. On last Friday, Nusantara soared 7.55% to IDR285 per share.
"Investors speculate that Rajawali Group might inject assets into Nusantara, so the shares should be increased," a local fund manager said.
Rajawali Group intends to enlarge shares ownership in Nusantara Infrastructure after it purchased 23.6% holding or 3.2 billion shares at Rp448 billion or Rp140 per share.
Previously, Infrastructure Growth Fund held 52.25% stake in META, while Bosowa Trading owns 17.48% stake.

Disclosure: No position at the stock mentioned above.  

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