Mar 21, 2012

Saratoga sells Tower Bersama

PT Saratoga Infrastruktur, a company of Saratagoga Capital Group, along wih Natural Resources Investment Limited, and an invidual investor today is underway to hold a secondary placement of 315 million shares or 6.9% of tower provider PT Tower Bersama Infrastructure Tbk (TBIG).
Those investors aim to dispose Tower Bersama shares at Rp2,825-Rp2,900 a share, representing a 2.5%-5% discount to close of Rp2,975 on March 21 2012 with a target proceed to raise up to US$100 million.
CLSA is the sole global coordinator, joint bookrunner, and joint placement agent for the secondary placement. Trading date is scheduled on March 22 and settlement date is expected to be held on March 28 2012.    

Disclosure: No position at the stock mentioned above.

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