Nov 29, 2011

Pikko controls 68.01% stake in Royal Oak

Pikko Land Corporation, a British Virgin Island-based company, has purchased 119.47 million shares of PT Royal Oak Development Asia Tbk (ASIA) during a tender offer.
Director Hendro Setiawan at Pikko Land said the shares purchase was held at Rp225 per share or Rp26.88 billion from 135 public shareholders. 
Pikko Land has settled the purchase on November 23 2011. Post the tender offer, Pikko Land is now controlling 68.01% stake or 9.16 billion shares in Royak Oak. 

Disclosure: No position at the stock mentioned above.

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