Nomura Jafco to close funds

Nomura Jafco to close funds

JAKARTA (JP): PT BNI Nomura Jafco Investment and Singapore-
based Nomura/Jafco Investment (Asia) Ltd. have sold their entire
shares in publicly listed cosmetics producer PT Tancho Indonesia
in line with the close of their investment funds.

In notices sent to the Jakarta Stock Exchange (JSX), the two
companies said they sold all their Tancho shares to Mandom
Corporation, the current majority shareholder, on Aug. 23 at Rp
2,700 each.

BNI Nomura and Nomura/Jafco, which previously owned 1.59
million and 1.38 million Tancho shares respectively, said that
the divestment was in line with the close of their investment
funds in December 1999 for BNI Nomura, and June 2000 for
Nomura/Jafco.

Mandom said that the purchase of the two companies' shares
boosted its stake in the cosmetics company to 54.84 percent.
(hen)