JAKARTA (Indonesia Today) – Shares of PT Sarana Menara Nusantara Tbk (TOWR) plummeted almost 18% to Rp16,650 Tuesday (Sept 18), or about 16.75% below the price 16% shares placed out by Djarum Group last week.
Trading volume of the tower operator, however, was very small at 107,000 shares. As reported earlier, Credit Suisse Securities Indonesia had crossed 164.2 million TOWR shares last Monday at Rp20,000 per share to raise Rp3.28 trillion or about US$343 million.
Djarum Group, through its unit PT Tricipta Mandhala Gumilang and PT Caturguwiratna Sumapala, had sold 16.1% TOWR shares. In December 2010, Djarum also sold 38.9% TOWR shares price of Rp12,000 per share, or Rp4.76 trillion in total. Currently the Group only holds 34% TOWR shares.
Competitor Tower Bersama Infrastructure (TBIG) also ended lower by 3.05% Tuesday. Another competitor, Solusi Tunas Pratama (SUPR), ended flat. (Indonesia Today)