Thursday, October 8, 2009

Semen Gresik raked IDR215.99 billion from block sale

PT Semen Gresik Tbk raked some IDR215.99 billion profits from the divestment of 68.03 million shares block sales two days ago.
Semen Gresik which is assisted by the selling agent, PT Mandiri Sekuritas, sold the stocks from the buyback in the past.
Semen Gresik bought back its shares at market with a par value of IDR2,900. Yesterday, it has crossing transaction at market with 6 percent discounted price from Tuesday closing at IDR6,500.
Semen Gresik spent IDR197.29 billion cost to support the stock buyback. The company then sold the shares with the par value of IDR6,110 so as to generate some IDR413.38 billion. The spread of the proceeds and the cost spent is worth IDR215.99 billion.

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