Sampoerna joins Transmarco

Sampoerna joins Transmarco

SINGAPORE (Reuter): Indonesian tobacco tycoon Putera Sampoerna has bought a substantial stake in trading company Transmarco Holdings, a company official said yesterday.

"We have been notified that Mr. Sampoerna has bought a substantial stake in the company," the official, who asked not to be identified, told Reuters.

"We will inform the stock exchange later today after the market closes," she said.

At 02:34 GMT, Transmarco topped the actives list in early trading with 5.9 million shares changing hands. The stock jumped Singapore $0.95 to S$6.75.

The official declined to reveal the size of the stake Sampoerna has bought. The Straits Times newspaper yesterday quoted unidentified sources as saying he bought a 20 percent stake, or about five million shares, in the open market.

Transmarco's biggest shareholder is Indonesian-born Sukamto Sia, who is also the second largest shareholder of Amcol Holdings, currently under judicial management.

Sampoerna is the president director of cigarette maker PT Hanjaya Mandala Sampoerna.