Ramba Energy completes Sugih Energy divestment
Monday, July 9 2012 - 01:33 AM WIB
By Romel S. Gurky
Singapore-listed oil, gas firm Ramba Energy Limited announced that it has completed the divestment of the remaining 158.35 million shares in Jakarta-listed energy concern PT Sugih Energy Tbk.
The company said in a statement over the weekend that payment for the balance worth US$1.73 million was received on July 4, 2012. Total proceeds obtained by the company from the 100 percent divestment of shares in PT Sugih is S$3.08 million.
Securities firm PT Sinarmas Securities was the placement agent and underwriter for the divestment process.
Editing by Reiner Simanjuntak