In the period of December 22-29, Maybank sold about 7 million BII shares in the price range of Rp785-810 per share. This morning the stock has dropped to Rp720 or 11% below its quoted price on December 22, 2010.
Pursuant to the decision of the chairman of Bapepam (Capital Market Supervisory AGency) dated June 30, 2008, Maybank, as the controlling shareholder of BII, is required to float to the public shareholders at the minimum of 20% of the issued share capital of BII.
The retail sale is part of the implementation of the said obligation. As of December 30, 2010, Maybank controls 97.39% shares in BII. At Rp720 per share, BII currently has market capitalization of Rp40.5 trillion or about US$4.5 billion. (Theindonesiatoday.com)
Source : http://theindonesiatoday.com/banking-headline/6510-maybank-continues-retail-sales-bii-falls-4.html - Jan 5, 2010
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