Mar 4, 2011

3.39 billion BUMI shares transferred

About 3.39 billion shares of PT Bumi Resources Tbk (BUMI) have been crossed through the stock exchange at the wide ranging price level. transferred
“During Bumi’s stock crossing today, beside collecting the shares for then being transferred to Vallar Plc, there will be also the execution of optional agreement with Glencore,” said two executives familiar with such transaction.
Today is the last day to complete the acquisition of 25% Bumi’s share or 5.19 billion shares of Vallar Plc. Based on the trading data in Indonesia’s Stock Exchange, such crossing process ranges between the supporting level of Rp1,871 per share and Rp3,125 of resistant level.
Having witnessed this Bumi’s stock being crossed in the first session, there are still 1.80 billion shares that must be transferred into the second trading session.

Follows the detail of 2.80 billion Bumi shares being transferred in the first session: 

Price           Stocks                   Brokerages
IDR1,871   968.44 million        DH to CS
IDR2,375   242.14 million        DH to DH
IDR2,500   868.18 million        DB to CS
IDR2,750   587.63 million        LK to CS
IDR2,785   247.78 million        DH to CS
IDR3,000   11 million               KS to KS
IDR3,070   465 million             CS top CS
IDR3,100   250.000                SS to SS
IDR3,125   150.000                ZP to ZP
IDR3,150   1.78 million           CS to CS

CS: Credit Suisse, ZP: Kim Eng Securities, SS: Supra Securinvest, KS: Kresna Graha Sekurindo, LK: Recapital Securities, DB: Deutsche Securities, DH: Sinarmas Sekuritas.

On 16 November 2010, PT Bakrie & Brothers Tbk (BNBR), Long Haul and Valler signed a shares swap agreement between 5.19 billion shares of Bumi with 28.9 million new shares of Vallar. Bumi stock was priced at Rp2,500 while Vallar stock was traded at 10 pounds per share.
Following such transaction, Vallar also acquired the shares of PT Berau Coal Energy Tbk as much as 26.17 billion shares at Rp540 from Bukit Mutiara. Vallar shall pay this particular acquisition as much as US$739 million.

Disclosure: No position at the stock mentioned above.

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