Tuesday, April 6, 2010

PPA & Danareksa will buy Semen Gresik share

The Asset Management Company (PT Perusahaan Pengelola Aset/PPA) and PT Danareksa Sekuritas is ready to acquire a 1.25% stake in publicly listed PT Semen Gresik Tbk at value IDR516.93 billion from the Rajawali Group.
The Ministry of state owned enterprise has left the acquisition of the minority stake in Semen Gresik to PPA and Danareksa since the government had no fund allocation to buy the share.
Rajawali through Blue Valley Holdings Pte Ltd previously controlled a 24.90% stake in Semen Gresik or the same as the stake owned by the government. Last week, Rajawali sold a 23.7% stake to three investors consisting of 1.35 billion shares (22.84%), 45 million shares (0.76%) and 3 million shares (0.05%). However, the identities of the new owners have not yet been identified.
Following the sales, the owner of Rajawali Peter Sondakh is estimated to raise IDR9.82 trillion in fresh fund.

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