Widodo family disposes BW Plantation at discount
Two controlling shareholders of CPO producer PT BW Plantation Tbk (BWPT), that is controlled by Budiono Widodo, and a foreign private equity PT Fendalton Investment, has completed a private placement of about 7% stake or 290 million shares to institutional investors at 5% discount or Rp1,585 a share.
According to two sources familiar with the matter, those shareholders, which are also founder of BW Plantation, during the placement, mandated Morgan Stanley to place 290 million shares with the price range of 1,585-1,615 per share, representing discount range of 5%-6.76% of the closing price yesterday (April 25) at Rp1,700 a share.
During the shares placement, the founders have set a proceed target of US$50 million. The closing is expected this morning. Settlement date is expected on May 1 2012.
BW Plantation is controlled by Budiono Widodo’s sons and daughter via PT BW Investindo with 38.85% stake, PT Wahana Platinum Indonesia with 3.88%, and PT Mitra Energi Global with 2.39%.
“It seems the founders who plan to place BW Plantation are Wahana Platinum and Mitra Global and also PT Fendalton Investment are selling those shares,” the sources told The Insider Stories yesterday.
Disclosure: No position at the stock mentioned above.
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numpang tanyak, klo stlh PP, kira2 bgmn ngitung harga wajar sahamnya ? TIA
salam,
Sepertinya beda ya pak PP dengan rights issue. Saya belum pernah membaca harga wajar suatu saham pasca PP. Mohon maaf..mungkin bisa ditanya ke analis yang lebih berkompeten. Salam