Mar 22, 2012

Saratoga sells Tower Bersama at Rp2,900

PT Saratoga Infrastruktur, a subsidiary of Saratoga Group that is controlled by Edwin Soeryadjaya and Sandiaga S. Uno., sold 287.98 million shares in tower operator PT Tower Bersama Infrastructure Tbk (TBIG) at Rp835.15 billion.
Tower Bersama said one of the company's controling shareholder placed shares at Rp2,900 a share, a 2.5% discount from the recent market closing on Wednesday.
Saratoga Infrastruktur sold 8% stake to several institution investors arranged by CLSA, UBS, and Indo Premier Securities.
Post the sale, Saratoga's stake reduced to 18.7% in Tower Bersama, while the remaining shareholders are PT Provident Capital Indonesia and PT Wahana Anugerah Sejahtera.

Disclosure: No position at the stock mentioned above.

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