IKI Kabel changes status<\/p>\n
JAKARTA (JP): The publicly listed PT IKI Indah Kabel Indonesia
\nhas formally changed its status from a wholly domestic firm to
\nits new classification as a foreign joint venture, following the
\nentry of Japan's Sumitomo Electric Industries into the company's
\nownership.<\/p>\n
The change in the status was approved by the company's
\nshareholders in an extra-ordinary meeting here yesterday, the
\ncompany announced.<\/p>\n
Sumitomo agreed in April to buy around 41 percent of IKI Kabel
\nshares from old shareholders. PT Perdana Mulia Ekasakti, also at
\nthe same time, bought another 10 percent.<\/p>\n
The private placement changed the composition of the company's
\nownership to 41 percent by Sumitomo, 10 percent by Perdana Mulia,
\n16.57 percent by Fantini Loekito, 5.22 percent by Kohar Suwandi,
\n0.92 percent by Bob Wirajendi and 26.29 by the public.<\/p>\n
The shareholders' meeting also agreed to appoint Kenji Murata
\nof Sumitomo as IKI Kabel's new president. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/iki-kabel-changes-status-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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