Tuesday, October 03, 2006

Bakrie sold 180 million Bumi shares

Willow Finance Ltd and Long Haul Holdings Ltd, two companies related to Bakrie family, have sold around 180 million shares of PT Bumi Resources Tbk with total proceeds around Rp126 billion. With the sales, Willow's shares slightly reduced to 22.14% and Long Haul to 11.4%.

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Blogger Matt said...

does any of those 180mn come from Willow's 2005 exchangeable bond you think? Last year Willow issued 2010 US$205mn 9% bond exchangeable into BUMI at Rp500/sh with many option including suspension put option. BUMI suspension a month ago (deliberate?) triggered the put option.

October 03, 2006 10:22 AM  

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