Oversea-Chinese Banking Corporation (OCBC) finally cancels its plan to buy a 29.5% stake in PT Trimegah Securities Tbk since it hasn't got approval from the Capital Market-Financial Institution Capital Market Supervisory Agency (Bapepam-LK).
OCBC and Trimegah Securities signed a conditional agreement on the sales of 1.07 billion Trimegah shares on January 26 or a 29.5% stake at IDR160 per share or IDR172.51 billion.
The 29.5% stake to be bought is owned by United Investment Inc, PT Philadel Terra Lestari, and Pieter Tanuri.
Based on the public company's financial statement as to September 2006, United Investment still controls a 39.82% stake in Trimegah, Philadel Terra Lestari a 3.44% stake, and Pieter Tanuri a 1.68% stake.
Is the cancellation was triggered by excessive intervention by the House of Representative members ? Maybe
But we must understand rules of the Bapepam about cross ownershipp between Trimegah Securities and NISP Securities, if the transaction done.....
Friday, March 9, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment