Shares over subscribed

Shares over subscribed

JAKARTA (JP): The property and real estate development company
PT Duta Pertiwi's offering of new shares has been over subscribed
by 354 percent.

Duta Pertiwi's vice president, Muktar Widjaja, said here
yesterday that during the primary offering period from Oct. 3 to
Oct. 5, the company received applications for the purchase of
88.6 million shares from the public, 68.7 million from foreign
investors and 19.9 million from local investors.

The subscriptions, priced at Rp 3,150 each, exceed the 25
million shares offered by the company.

The shares are scheduled to be listed on the Jakarta and
Surabaya Stock Exchanges.

Duta Pertiwi, an affiliate of the Sinar Mas Group, has
developed eight business centers, including a trading center in
Mangga Dua, North Jakarta. (fhp)