Jul 9, 2011

Reignwood pledges 17.08% ENRG

Thai-based conglomerate Reignwood International Investment (Group) Company Limited, which is founded in 1984 by Thai-Chinese businessman Chanchai Ruayrungruang, has continued to pledge shares of oil and gas company PT Energi Mega Persada Tbk (ENRG).
After it pledged 6.54 billion shares or nearly 16% of total equity of ENRG to The Siam Commercial Bank Public Company Limited, Reignwood again has continued to pledge 200 millon shares of ENRG, oil and gas producer that is controlled by Bakrie Group.
Referring to the latest official announcement from Reignwood that was forwarded by Energi Mega to Indonesia Stock Exchange, Reignwood in total has pledged 6.93 billion shares of Energi Mega, representing 17.08% of ENRG's total outstanding shares.
Assuming the pledge was done at Friday's closing price at Rp200, Reignwood has pledged Rp1.38 trillion of ENRG shares. 
However, there is no clarity from Reignwood about the pledge purpose. Reignwood manages four business sectors such as consumer goods, modern services industry, sport, art, and culture, investment and financial services. Red Bull Vitamin Drink Company Limited in China is one of companies owned by Reignwood Group.

May 19     2,77 billion shares
24             3,63 billion
June 14     28 million
17            43 million
20           11,05 million
21           15 million
22           50 million
23           100 million
24           70 million
27           20 million
28           100 million
29           100 million
Total        7.01 billion (17.26% of Energi Mega outstanding shares)

Disclosure: No position at the stock mentioned above.  

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