Kalbe tender offer Enseval shares

PT Kalbe Farma Tbk held a tender offer of 725.23 million shares or 31.81 percent of PT Enseval Putera Megatrading Tbk ownership.
Referring to the tender price offer of IDR870, Kalbe Farma should prepare some IDR630.95 billion.
PT Kresna Graha Sekurindo through the letter dated on June 18, it ensured Kalbe Farma has adequate fund to have tender offer.
The tender offer has higher value than the top market price of Enseval at the Indonesia Stock Exchange (IDX) within 90 days prior to the tender announcement from March 21-June 18, 2009.
"Tender offer will be executed within 30 days after tender offer statement announced," said Kalbe Farma boards of directors on its website last week.
Kalbe boards of directors said the sales and purchase of Enseval shares in the tender will be executed through IDX and the payment should be in rupiah.
"The Enseval shareholder with shares in warrant and interested to participate in tender offer should convert their equities into shares without warrant with their own expenses."
Based on the letter addressed by Kresna Graha June 18, 2009, Kalbe Farma has adequate fund to finance the tender.
As per 30 April 2009, Kalbe Farma owns 58.19 percent Enseval shares, HSBC-Fund Service Clients 10.93 percent and the rests 30.88 percent owned by public.