Jan 14, 2011

Titan International owns 95% in FPNI

Titan International Corp Sdn Bhd, controlling shareholder in PT Titan Kimia Nusantara Tbk (FPNI), has purchased 273.15 million shares or 4.9% of total issued and paid shares through a tender offer at Rp132 per share.
In a company statement submitted to Indonesia Stock Exchange recently, the tender offer started on December 14 2010 to December 20 2010, arranged by PT Bahana Securities.
Post tender offer, Titan International controls 5.31 billion shares or 95.3% shareholding and public shareholders still own 260.97 million shares or 4.7% stake.

Disclosure: No position at the stock mentioned above.

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