Feb 8, 2011

IndoAgro bags Rp175 bio on shares sale

Palm oil player Indofood Agri Resources Ltd (IndoAgri), subsidiary of PT Indofood Sukses Makmur Tbk (INDF), bags Sin$25.14 million or Rp175.4 billion from treasury shares sale
In an official statement filed to Indonesia Stock Exchange (IDX) last night, IndoAgri has disposed 9 million shares. 
"We have sold treasury shares previously saved at certain account of shares buyback and managed by Central Depository Pte Ltd," said IndoAgri Corporate Secretary Mak Mei Yook in the statement.
IndoAgri, Indofood's subsidiary, was founded in 2001 and listed shares at Singapore Exchange Sesdag on July 12 2002 and at Singapore Exchange Mainboard on February 14 2007.
IndoAgri is controlling shareholder in palm oil producer PT PP London Sumatra Plantations Tbk (Lonsum).

Disclosure: No position at the stock mentioned above.

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