Komatsu plans JSX delisting<\/p>\n
Publicly listed PT Komatsu Indonesia, a local unit of Japan's
\nheavy equipment company Komatsu Ltd., announced on Thursday its
\nplans to change its status to a private foreign investment firm
\nand delist its shares from the Jakarta Stock Exchange (JSX).<\/p>\n
In its press statement, Komatsu Indonesia said that in
\nconnection with the delisting and go-private proposal, its parent
\ncompany would make a tender offer to acquire the shares in
\nKomatsu Indonesia owned by others.<\/p>\n
Komatsu Ltd. owns a 68.42 percent stake in its Indonesian
\nunit.<\/p>\n
Komatsu Ltd. will offer to the public shares at Rp 8,500 each,
\nwhich is a 48.8 percent premium to the minimum price of Rp 5,712
\nper share that could have been offered under Indonesian
\nregulations.<\/p>\n
The price is also a premium of 58.9 percent to the company's
\nhighest traded price over the last 12 months of Rp 5,350 per
\nshare. It is also a premium of 61.9 percent to the last traded
\nprice of the company's shares of Rp 5,250 per share prior to its
\ntrading suspension on Aug. 11.<\/p>\n
According to Komatsu Indonesia, the delisting is in line with
\nthe global policies of Komatsu Ltd, which consistently delisted
\nits shares from various stock exchanges recently, including from
\nthe Nagoya Stock Exchange, the Sapporo Securities Exchange, the
\nFukuoka Stock Exchange, the Frankfurt Stock Exchange and the
\nLuxembourg Stock Exchange.<\/p>\n
Komatsu Indonesia submitted the delisting proposal to the JSX
\non Aug. 11. The JSX has suspended trading in the company's shares
\nas of Thursday, on the company's request, until further notice.<\/p>\n
An extraordinary general meeting of shareholders will be held
\non Sept. 21 to seek the approval of shareholders for the
\nproposal. -- JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/komatsu-plans-jsx-delisting-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}