SSX to delist Indocopper Investama on Oct 28
Wednesday, August 28 2002 - 10:57 AM WIB
Surabaya Stock Exchange (SSX) announced on Wednesday PT Indocopper Investama Tbk will be delisted from its Securities List effective on October 28, 2002.
SSX made the announcement after US mining giant Freeport-McMoran Copper & Gold Inc. on August 23 bought another 111.595 shares of Indocopper at Rp313,475 (US$=Rp8,845) per share.
With the transaction, Freeport currently controls 100 percent stake in Indocopper and makes a way to going private.
SSX said it will also delete securities of Indocopper from all trading and information media provided by the stock exchange.
Earlier reports said that after going private, Freeport planned to merge Indocopper with Freeport Indonesia with the latter as surviving company.
Freeport McMoran holds 90.4 percent of Freeport Indonesia which operates huge copper and gold mines in Papua. (robert)