Sukamto raises Amcol stake

Sukamto raises Amcol stake

SINGAPORE (Reuter): Indonesian businessman Sukamto Sia, preparing for a boardroom battle later this month, has bought 1.55 million more shares in trading firm Amcol Holdings Ltd, bringing his stake in the company to more than 13 percent.

A Stock Exchange of Singapore statement said on Wednesday Beswill Investments Pte Ltd, Sukamto's private company, bought the shares on the open market for Singapore $3.89 each on Tuesday, bringing the total number of shares it holds in Amcol to 38.99 million.

Sukamto recently called for an extraordinary general meeting (EGM) to overthrow Amcol's 13-member board led by another Indonesian businessman Henry Pribadi and appoint himself and his nominees in their place.

Pribadi, currently Amcol's managing director, is its biggest shareholder with a 17.9 percent stake.

Sukamto recently lost a battle to take control of Hong Kong- listed Sum Cheong International and also resigned as chairman of Singapore-listed Transmarco Ltd.