Sep 12, 2011

Bapepam scrutinies Tuscany Group

Capital Market Supervisory Agency (Bapepam-LK) is tracking an ultimate shareholder behind Tuscany Investment Group Limited, a Seychelles founded company that agreed to acquire a drilling operator PT Apexindo Pratama Duta Tbk (APEX).
Gonthor Ryantory Aziz, Bureau Head of Financial Assessment for Services Company at Bapepam-LK, said as an special purpose vehicle, Tuscany has equity of US$100,000.
"Tuscany has appointed its representative party in Indonesia. We will call them next week and try to find out who investors behind them," he said as quoted by Bisnis Indonesia today.

Disclosure: No position at the stock mentioned above.

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