JAKARTA - PT Ungaran Sari Garments (USG) realised a mandatory tender offer from PT Eratex Djaja Tbk (ERTX) by purchasing 20,162,100 out of 56,698,700 shares offered by the company on Monday (5/10).
In a stock exchange filing published on Thursday (8/10), USG CEO Maniwanen said that the company initially planned to purchase 56,698,700 shares, or 4.41% of ERTX's placed and paid-up capital, at Rp 135 per share. However, until the offering deadline USG only purchased 1.57% of ERTX's placed and paid-up capital.
According to Mr Maniwanen, following the transaction USG's ownership in ERTX increased to 97.16% from 95.59% while public ownership dropped to 2.84% from 4.4%. Currently ERTX has a total of 1,286,539,792 shares. (LK/MS)