Jan 19, 2011

Sumber Alfaria falls 6.67% on shares sale

Alfamart store operator PT Sumber Alfaria Trijaya Tbk (AMRT) today plunged 6.67% to Rp2,800 per share after its founder PT Sigmantara Alfindo placed 10% shareholding at 8.3% discount from yesterday's closing level.
Sumber Alfaria's earning per share (EPS) was Rp44.40 per share in September 2010, sending an annualized EPS of Rp59.2.
Referring to currently market level, Sumber Alfaria is traded at 47.29x P/E. Macquarie Securities was the biggest net seller for the stock  worth Rp1.24 billion.
As of September 2010, Sumber Alfaria posted Rp10.08 trillion revenue and Rp152.36 billion net income. Last year, the retailer booked Rp10.55 trillion revenue and Rp186.42 billion net income.
Indonesian businessman Djoko Susanto last night closed a 10% stake or 343.17 million shares placement at Rp2,750 per share, representing 46.45x annualized P/E.
Djoko Susanto, via Sigmantara Alfindo, bagged Rp943.72 billion cash from the shares placement
Djoko Susanto, via PT Sigmantara Alfindo, offered Sumber Alfaria at Rp2,700-Rp3,025 per share, representing 45.61x-51.09x of P/E. He sold Sumber Alfaria after completing the shares acquisition from several sellers early December. 

Disclosure: No position at the stock mentioned above.  

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