HSBC Bank Shares Off 10% to a Market Economy ? ~ MAKE MONEY BLOG$

4/26/11

HSBC Bank Shares Off 10% to a Market Economy ?

7:29 AM

admin

Anga Aliya - detikFinance
Jakarta - HSBC Holdings PLC (HBC) intends to release some of PT Bank Ekonomi Raharja Tbk (Baek) is currently dominated byits subsidiary, HSBC Asia Pacific Holdings (UK) Limited.

As quoted from the London Stock disclosure, on Tuesday(04/26/2011), the number of shares that will be released to the public as much as 10.07% of the total shares, equivalent Baek268.869 million shares.

Later, after the release of these shares of HSBC Asia PacificHoldings Limited will acquire 88.89% in August 2011. Action willbegin selling these stocks performed HSBC in the capital marketnext month.

Currently, HSBC Asia Pacific Holdings Limited mastered 2.642billion shares (98.96%) stake in Bank Ekonomi. While the remaining 27.687 million shares (1.04%) shares outstanding inpublic.

The disposal is done in accordance with the rules of capitalmarkets in which the issuer has to return shares to the public twoyears after a tender offer made at the time of acquisition.

But unfortunately, the disclosure of the information is not clear about the price of the share sales.

As is known, more than two years ago, exactly 20 October 2008,HSBC acquired Bank Ekonomi Raharja by taking a 88.89% stakeworth U.S. $ 607.5 million (USD 5.953 trillion), equivalent to Rp2452 per share.
(ang / dnl)
source: detik.com
please give me comments thanks