Pribadi raise Amcol stocks

Pribadi raise Amcol stocks

SINGAPORE (Reuter): Indonesian tycoon Henry Pribadi said he
would buy 20 million Amcol Holdings Ltd shares from former Amcol
managing director Kang Hwi Wah.

Pribadi, who currently holds 26 million shares or 8.86 percent
of Amcol, said he had entered into an agreement to buy the shares
at Singapore $5.0 each from Kang in three tranches over the next
four months.

Pribadi will buy five million shares on Aug.25, another five
million on Oct. 25 and 10 million on Nov.27.

The 20 million shares represent 6.82 percent of the issued
share capital of Amcol.

On completion of the purchase, Pribadi will be the single
largest shareholder in Amcol with a 15.68 percent stake.

Kang will be left with 6.67 percent or 19.92 million shares
after the sale.