Apr 25, 2011

Hambali Mitra sets tender for DYNA

PT Hambali Dina Mitra, a controlling shareholder in PT Dynaplast Tbk (DYNA), the leading rigid plastic manufacturing company in Indonesia, is poised to hold a tender offer in a bid to buy Dynaplast shares which are now held by public investor for the proposed price of Rp4,500 per share.
Hambali Mitra, which currently controls 40.09% shareholding in Dynaplast, is committed to buy 104.65 million shares or representing 33.25% of the company's equity from public shareholders, including 27.41 million shares or8.71% stake from UOB Kay Hian Pte Ltd.
The proposed price is 20% higher than the average price of Dynaplast at Indonesia Stock Exchange during 90 trading days before go private announcement on March 25 2011.
Besides Hambali Mitra, a company focusing its business in services, management, and administration, Dynaplast is also controlled by Dynapack Asia Pte Ltd, Singapore.
Hambali Mitra, founded in April 2001, is 90.85% controlled by Dynapack Asia Pte Ltd with ultimate shareholders of Hambali family and 9.05% owned by Australasia Investment Pte Ltd. Catherine Hambali and Emmeline Hambali are President Commissioner and Commissioner of Hambali Mitra, while Tirtadjaja Hambali acts as President Director.
 
Disclosure: No position at the stock mentioned above.  

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