Cooperatives get shares

JAKARTA (JP): Seven publicly listed companies yesterday sold 5.87 million shares at par value to cooperatives to support the government's enhance equity development program.

They were PT Cahaya Kalbar which sold 850,000 shares, PT Enseval Putera Megatrading (1,140,000 shares), PT Hexindo Adiperkasa (150,000 shares), PT Karwell Indonesia (1,950,000 shares), PT Kedawung Setia (1,000,500 shares), PT Maskapai Reasuransi Indonesia (171,140 shares) and PT Texmaco Perkasa Engineering (609,000 shares).

The total value of the share transactions was Rp 3.68 billion (US$1.52 million).

According to Indonesian Issuers Association (AEI) data, last year, 13 listed firms sold about 10.26 million shares to cooperatives also under the government's guideline on promoting equity. (09)