Dec 4, 2011

Syailendra puts Rp1.35 trio on ABM shares

A corsortium led by Syailendra Capital, controlled by stellar figure in the capital market, Jos Parengkuan, has piled nearly two third of the IPO of an energy integrated company PT ABM Investama Tbk. 
Syailendra, which is backed up by a qualified sovereign wealth fund from Asia, has paid Rp1.35 trillion of the total IPO worth Rp2.1 trillion 
Syailendra Capital Jos Parengkuan said this is an attractive opportunity to put investment into a qualified company with large volume and cheap valuation 
"There are similiarity between ABM and PT United Tractors Tbk. They have similar business model, solid track record, professionalism, and good corporate governance," he said in a press statement today. Syailendra piled 360 million shares in ABM at Rp3,750 a share of the total shares float of 550.6 million shares.
 
Disclosure: No position at the stock mentioned above.
 
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