Jun 13, 2011

CLSA arranges Indosiar tender offer

PT CLSA Indonesia has been mandated by PT Elang Mahkota Teknologi Tbk (Emtek) as the only brokerage which will arrange a tender offer of the remaining shares in PT Indosiar Karya Media Tbk (IDKM), parent of Indosiar television station.  
The tender offer for Indosiar Media is set at Rp950 a share for 1.47 billion shares or 72.76% shareholding. Emtek, which is controlled by Indonesian businessmen Eddy K. Sariaatmadja and Susanto Suwarto will spend Rp1.4 trillion for the tender offer.

Disclosure: No position at the stock mentioned above.

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