PT Bank Mandiri Tbk readies to finance PT Semen Gresik Tbk up to IDR7 trillion capital expenditure as from the total of US$1.3 billion or IDR15.6 trillion required funds (US$1 equals to IDR12,000).
An executive knowing the scheme said the syndication of Bank Mandiri competed with some other bank syndications including the syndication of Hongkong and Shanghai Bank (HSBC) consisting of Royal Bank of Scotland, BNP Paribas, and Bank DBS.
Semen Gresik has realized the stock buyback of 56.36 million shares in the transaction from October 13 to December 5, 2008.
The stock buyback required some IDR155.79 billion fund.
Corporate secretary of Semen Gresik Sunardi Prionomurti said on 13-28 November 2008, the company bought back a total of 53.33 million shares worth IDR145.81 billion.
"In the 1-5 December 2008 period, the number of bought back shares stood at 3.03 million worth IDR9.97 billion. Thus, the remaining fund for the buyback program stands at IDR844.2 billion."
The company prepares up to IDR1 trillion fund at maximum for the maximum of 20 percent stock buyback of the possessed capitals.
Wednesday, December 10, 2008
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