May 30, 2011

Kiki Barki grabs Rp2.4 trio on Harum sale

The national veteran businessman in the coal industry Kiki Barki grabs Rp2.44 trillion cash from shares sale of 10% stake in coal miner PT Harum Energy Tbk (HRUM) at Rp9,050 a share, a 5.23% discount from last week's closing level.
In a private placement to financial institutional investors on Friday last week, Kiki Barki disposed 270 million shares or 10% of Harum's equity within the range price of Rp9,050-Rp9,550 a share. Deutsche Bank dan Macquarie Securities are the joint placement agents which has been mandated by Kiki Barki. 
Harum Energy owns and manages stakes in three coal assets dubbed PT Mahakam Sumber Jaya, PT Santan Batubara, and PT Tambang Batubara Harum.

Disclosure: No position at the stock mentioned above.

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