Tuesday, May 4, 2010

Danareksa & PPA buy 1.25% shares of Semen Gresik

The government through PT Danareksa and PT Perusahaan Pengelola Aset (PPA) has officially become the owner of 1.25 percent shares of PT Semen Gresik Tbk, the largest cement producer, sold by the Rajawali Group.
Thus, the government ownership of cement company based in Gresik, East Java, here has increased into 26.15 percent.
Rajawali Group has divested the remaining minor shares to the government on April 30.
Rajawali, on March 31, sold Semen Gresik stocks with a par value of IDR7,000 equally to the sales price to some investors upon the assistance provided by JPMorgan Chase & Co.
With such a par value, the transaction value of 1.25 v shares will be worth at IDR516.93 billion.
The IDR7,000 price here had 15 percent discount from the stock price of Semen Gresik on yesterday closing worth IDR8,250.

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