Feb 12, 2012

Abdi Andre bags Rp30 bio in Atlas sale

Abdi Andre, founder and controlling shareholder of PT Atlas Resources Tbk (ARII), reported sale of 20 million shares in Atlas Resources at Rp1,500 a share. 
In official statement filed to Indonesia Stock Exchange last week, Abdi Andre bagged Rp30 billion cash from the shares sale during a period of December 18 to December 24 2012.
In 2010 and 2009, Atlas Resources produced 1.25 million tons and 1.06 million tons coal. In the first four months of this year, the company produced 333,474 tons. Most production was contributed by its subsidiary dubbed PT Berau Bara Energi.
Atlas Resources owns 18 subsidiaries namely Berau Bara Energi, PT Diva Kencana Borneo, PT Hanson Energy, PT Aquela Pratama Indonesia, PT Optima Coal, PT Optima Persada Energi, PT Citra Global Artha, PT Papua Inti Energi, PT Kalibara Energi Pratama, PT Gorby Energi, PT Gorby Global Energi. PT Gorby Putra Utama, PT Anugrah Energi, PT Banyan Koalindo Lestari, PT Cipta Wanadana, PT Karya Manunggal, PT Musi Mitra Jaya, and PT Sriwijaya Bara Logistic.

Disclosure: No position at the stock mentioned above.
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