JAKARTA: State-Owned Enterprise Ministry forced the sale of 10.9% or 2.47 billion stocks of PT Garuda Indonesia Tbk which now owned by three IPO underwriters through block sale mechanism to PT Trans Airways.
Several executives who receive the information said that in Garuda stock trading confirmation letter signed by PT Danareksa Sekuritas and PT Bahana Securities on Monday evening, it was stated that the sale was done at IDR620 per share, far below the yesterday’s market price of IDR670.
Up until now, the Garuda stock owner, PT Mandiri Sekuritas has yet to sign the trade confirmation from the block sale.
“If Danareksa, Bahana, and Mandiri Sekuritas agreed to realize the stock sales they will potentially struck by loss, moreover the Garuda stock price had reached the highest level at IDR690,” he told Bisnis, yesterday. "It is clear that Trans Airways gain profits over state-owned securities loss.”
Trans Airways is owned by Chairul Tanjung, a businessman who owns the Trans Corporation. Based on the original schedule, the sale through a block sale is targeted to be realized on Friday this week. (T07/aph)