The Asian Development Bank (ADB) will buy a 25% stake in publicly listed PT Bank Saudara Tbk under a strategic partnership scheme to increase the capital of the bank, which is controlled by tycoon Arifin Panigoro.
Meanwhile, ADB denies the information. The company announce routinely holds discussions on a variety of issues with banks, companies and other institutions in Indonesia and around the region on ways that ADB can support poverty reduction in Asia. It met recently with Bank Saudara and other institutions in Indonesia as part of those regular discussions.
The Indonesia Stock Exchange (BEI) on October 5, 2009 once suspended Bank Saudara stock trading due to uncommon share price hikes. Only within a month, Bank Saudara share price skyrocketed 150% to IDR345.
Friday, October 9, 2009
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