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)