Bahana handles Aqua tender offer

PT Aqua Golden Mississippi Tbk has appointed PT Bahana Securities as the consultant handling the corporate tender offer for its go private.
Tender offer will be executed following the approval given in the extraordinary general meeting of shareholders (EGMS) for the Aqua Golden go private scheme.
The go private scheme has so far could not be performed yet as it still waits for the approval from the Capital Market and Finance Institution Supervisory Agency (Bapepam-LK) on the independent auditor appointment.
The absence of Bapepam approval has suspended the company to have EGMS for go private approval.
The company has either appointed Hadiputranto Hadinoto & Partners as the advisor of the go private process.
Listing director of IDX Eddy Sugito said the bourse will allow Aqua Golden to become go private company if the shareholders provide supports.
"They have proposed go private, just wait for the approval from the shareholders," he said last week.
On June 5, IDX suspended the Aqua Golden stock trade noting the corporate go private proposal and voluntarily delisting.
Formerly Aqua Golden has twice proposed the go private scheme on December 2001 and September 2005. but it failed due to the shareholders refusal.
Aqua Golden stock was last traded on June 4, 2009 on the level of IDR134,218 or stagnant . thus the market capitalization stood at IDR3.22 trillion.
At the same time, Yanie said the Aqua shareholders yesterday agreed to share cash dividend as from 2008 net profit worth IDr1,200 per share unit. The figure equals to 19.18 percent as from 2008 net profits worth IDR82.34 billion.
Aqua Golden projected the sales this year could stand at IDR2.6 trillion or rose from IDR2.33 trillion last year.