Karunia Bara to sell part of Harum Energy?s shares

PT Karunia Bara Perkasa plans to sell a part of PT Harum Energy?s shares through a private placement, with a price of between Rp 6,000 and Rp 6,100 per share, Investor Daily reported on Wednesday.

Karunia Bara, the majority shareholder of Harum Energy with a 70.25 percent stake, expected to raise about Rp 1.2 trillion from the sales of the shares.

?The shares will be sold through private placement,? a source told Investor Daily. The source said that the shares were offered at between Rp 6,000 and Rp 6,100, below the closing price of Rp 6,300 on Tuesday.

Meanwhile Finance Asia reported that Karunia Bara Perkasa planned to sell 200 million or 7.4 percent of Harum Energy?s shares. The company has named Credit Suisse and Goldman Sachs as book runner of the sale.

However, the offer received cold welcome from investors. And according to IFR Asia, Karunia Bara had cancelled the divestment plan due to the lack of response from investors.

Harum Energy?s President Director Ray Antonio Gunara was not available for confirmation while Corporate Secretary Alexandra Mira said that the management was not aware about the plan. (*)