DSSA and UFS finally sign share purchase agreement
Tuesday, July 16 2013 - 05:20 AM WIB
IDX listed PT Dian Swasatatika Sentosa Tbk, a subsidiary of Sinar Mas Grup, on 11 July 2013 signed a share purchase agreement (SPA) with United Fiber System Limited (UFS), an SGX listed forestry firm after the plan experienced a delay in 2012. The signing completes DSSA swap agreement with UFS over GEMS?s share.
The signing makes DSSA owns 94.0686% of UFS? share and DSSA will transfer 66.9998% of its shares in Golden Energy Mines, DSSA?s coal mining company.
United Fiber sold 44.28 billion shares at S$0.035 apiece, while GEMS sold its 3.94 billion shares at a premium price of Rp 2,750 a share, Dian Swastatika said in a statement published January 2012.
By this signing, DSSA completed its backdoor listing in Singapore stock exchange, aiming for better financing access in regional market.
Editing by Adianto P. Simamora