Tuesday, January 16, 2007

Harry Tanoe's maneuver at CMNP

Harry Tanoesoedibjo's PT Bhakti Investama Tbk bought 180.3 million shares (9.01%) of turnpike operator PT Citra Marga Nusaphala (CMNP) Tbk on the last trading day of 2006 at Rp1345/share, days after PT Jasa Marga announced its plan to offload almost 270 million shares of CMNP. On Dec 26, I posted the news about Jasa Marga's divestment. Initially I thought it's Tutut (Soeharto's daughter). "No, it's Harry Tanoe and Robby Sumampouw," a friend said. Robby's son Ievan Danar Sumampouw owned 5.13% shares as of Dec 31.

CMNP reported to JSX last week that as of Dec 31, Jasa Marga owns 17.78% shares, followed by UBS (7.2%), Redmington (5.23%), and Ievan Sumampouw (5.13%). On Jan 11, CMNP told JSX that as of Jan 3rd, Jasa Marga ownership reduced from 355.76 million shares to 352.56 million, and further declined to 84.57 million (4.23%) as of Jan 5. Jasa Marga divested the shares through bookbuilding, limited to less than 100 investors on Dec 26-27. No information available who bought the shares. Today its price jumped to Rp1580.

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