Thursday, July 23, 2009

Adaro shareholders restructure ownerships

PT Adaro Energy (ADRO) Tbk announces that the key shareholders intends to restructure some of their holdings of stock into a single entity called PT Adaro Strategic Investment, which directly owns 43.91% shares of ADRO.
ADRO told investors this morning that the shares of Rachmat family, Thohir family, Subianto family, Mr Edwin Soeryadjaja, and Mr Sandiaga Salahuddin Uno, are consolidated into PT Adaro Strategic Investment.
Adaro is the second largest coal producer in Indonesia with market capitalization of Rp38.4 trillion or about US$3.8 billion. So, the value of ASI's shareholding in Adaro is about US$1.7 billion. The stock has surged 140% this year. 

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