Indonesia Stock Exchange suspended the trading of PT Bhakti Investama the stock surged 188 percent from Feb. 16 until Feb. 24. The temporary trading halt will allow investors time to
make an informative decision, the bourse said.
make an informative decision, the bourse said.
Market still wait action from Tycoon Bambang Hary Iswanto Tanoesoedibjo who plan to acquire PT Pacific International Indonesia Insurance to strengthen business line in the financial services sector.
He will realize the acquisition through his investment holding company publicly listed PT Bhakti Investama.
Based on the 2008 financial statement, Pacific International is controlled by Everest Worldwide Limited (85%) and PT Danpac Asset Management (15%).
Based on the 2008 financial statement, Pacific International is controlled by Everest Worldwide Limited (85%) and PT Danpac Asset Management (15%).
The acquisition is part of Hary Tanoe's expansion to acquire several other companies in the gold mine, oil and gas, coal, and media content sectors worth US$300 million in the first semester of 2010 through investment holding company PT Bhakti Investama and media holding company publicly listed PT Global Mediacom.
Half of the total investment, around US$150 million, will be financed by bilateral loans. Bhakti group has investment, multifinance, and securities companies.
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