Mar 23, 2011

UOB-Kay Hian holds 16.5% Bank Capital

UOB–Kay Hian Securities, a top securities company South East Asia, acquired 16.64% PT Bank Capital Indonesia Tbk which previously owned by Danny Nugroho.
The acquisition which is done by United Overseas Bank (UOB) Limited is revealed on the 2010 financial report of Bank Capital, where there is a massive change in shareholder structure. However, the spending fund of the transaction has not yet known.
As it is known, Danny Nugroho released 21.7%. Yet, the businessman from Solo, Central Java is still the major shareholder of Bank Capital.
Since, besides holding individual shares, he also acquires shares through two foreign companies, namely Zen Gem Investments Limited with 14.34% and Inigo Investment Ltd with 15.44%, thus the total shares which owned by Danny is 29.78%.
While, other shareholder are Mount-8 Holdings Offshore LTD with 19.86%, TFI (X) TRA Ordinary I with 11.21% and public with 22.32%.
Does UOB-Kay Hian acquire Bank Capital or just temporary holding Bank Capital shares for repurchase agreement (repo)?

Disclosure: No position at the stock mentioned above.  

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