Summary market hints, October 19, 2022
JAKARTA - On October 19, 2022 market hints begin with the acquisition of PT Cahayaputra Asa Keramik Tbk by PT Tancorp Bangun Indonesia after Tancorp Group bought 662 million shares or 55% ownership of the ceramic manufacturer. This sale makes this company owned by Hermanto Tanoko, the controlling shareholder of CAKK. The acquisition aims to expand the group's portfolio in the building materials industry, besides owning the paint company Avia Avian. In the second place, Equity Global International Ltd Hong Kong reportedly bought 410 million shares of PT Equity Development Investment Tbk (GSMF), increasing its ownership to 68%.
The following three issuers did not acquire more of other issuers' ownerships but instead did buybacks of their company shares. The biggest bread manufacturer in Indonesia, PT Nippon Indosari Corpindo Tbk, bought back 13.6 million ROTI shares, while PT Tunas Ridean Tbk bought more than 8.6 million shares of TURI, and PT Delta Dunia Makmur Tbk (DOID) bought back another 1 million shares today.
At the top sell list, PT Tudung Putra Putri Jaya has sold 390 million GOOD shares from PT Garudafood Putra Putri Jaya Tbk, so its ownership decreased by 1%. In addition, 60 million shares of IPPE, from coconut oil issuer PT Indo Pureco Pratama Tbk, were sold by PT Sapihanean Pangan Lestari.
Subsequently, PT Investindo Buana Ultima sold 7.6 million shares of PT Solusi Sinergi Digital Tbk (WIFI), while PT Surya Fajar Corpora, as the major shareholder of PT Surya Fajar Capital Tbk, reduced its shareholding after selling 2.8 million SFAN shares. From the foreign investment, UOB Kay Hian Hong Kong Ltd released another 1.8 million shares of PT MNC Kapital Indonesia Tbk (BCAP) (KD)
Read more about today's Market Hints at IDN Financials!