Founder buys Bayan shares from market
Saturday, October 7 2017 - 02:30 AM WIB
Low Tuck Kwong, founder of IDX-listed coal firm PT Bayan Resources Tbk, acquired around 10 percent of the company?s shares Friday through crossing transaction on the Indonesia Stock Exchange, Kontan reported on Saturday.
According to information obtained by the paper, the crossing transaction was valued at Rp 1.15 trillion.
The transaction increases the ownership of Low, one of the richest men in Indonesia, in Bayan to 61.59 percent, the paper said.
Bayan Corporate Secretary Jenny Quantero confirmed the transaction, but said that the company has yet to get information about value. (*)