JAKARTA: Malayan Banking (Maybank) reportedly disposed partial shares of PT Bank International Indonesia Tbk (BII), even though a capital market regulator has provided additional time. Head of Services Sector Assessment Bureau at Financial Institution and Capital Market Supervisory Agency (Bapepam-LK) stated that the Malaysia-based bank had reported its share issuance.
"We provide 6-month deadline for completing the issuance, but they actually has released gradually in accordance with regulation on capital ownership
Malaysia's bank having the largest asset, in 2008, acquired 55.6% of BII shares from a consortium of Sorak Temasek-Kookmin Bank with a transaction value by RM4.26 billion or US$1.24 billion.
Then in Ocotber 2008, Maybank implemented a tender offer by acquiring public-owned BII shares of 28.14% priced IDR510 a unit. Thus, Maybank owns BII's shares to 71.86%.
In accordance with a regulation of Bapepam-LK No.IX H 1, investors taking over the shares, needs to add floating shares with a minimum of 20% and a maximum time of two years started from the tender offer day.(t01/wiw)
Source : http://www.bisnis.com/index.php/corporate/2718-maybank-disposes-shares-in-bii - Dec 20, 2010
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