* Ultra Jaya (ULTJ) – This independent milk company’s stocks gained 109% over the past four trading days. Based on last close, market cap is around Rp5.4trn (US$550mn). The company made a profit of Rp68bn in 1H10 (up 151%), after growing sales by 22% yy. Annualizing the 1H10 net profit the stock trades on 40x P/E FY10. (Verdi Budiman).
* Tower Bersama – launching an IPO for 755mn shares or 15.8% of the company, price range Rp1675-2100. Price will be set on 7 Oct, green shoe 113mn shares. (Bisnis Indo).
* Bakrie Plantations (UNSP) – Bisnis Indonesia reporter speculates that UNSP may be able to close the transaction to acquire Domba Mas, after Bank Mandiri agrees to write-off the interest receivable from the bad loan. Bank Mandiri CEO Zulfiki hopes to close the transaction by end Sept. (Bisnis Indo).
* Bank Bukopin (BBKP) – Bank Rakyat Indonesia’s CEO Sofyan Basir told the press that minister of SOE has given him the formal go-ahead to become majority shareholder in Bank Bukopin. Bank Indonesia’s deputy governer Muliaman Hadad told the press that he has not seen any approval request from BBRI, for the Bukopin acquisition. (Kontan). Yesterday, Bloomberg reported that the state pension fund Jamsostek has bought shares in Bukopin below Rp700/share.
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