Oct 13, 2011

Sinarmas sets RODA tender offer

Pikko Group has mandated PT Sinarmas Sekuritas as a brokerage that helps conducting a tender offer for the remaining shares in PT Royal Oak Development Tbk (RODA).
In an official announcement yesterday, Pikko Land said Sinarmas Sekuritas will hold administrative tasks of the tender offer, including the settlement.
Pikko Land, founded in British Virgin Island, intends to hold the tender offer of 4.3 billion shares or 31.99% stake in Royal Oak, following a 68.01% take over.

Disclosure: No position at the stock mentioned above.

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