JAKARTA (Yosefardi) – The consortium of shareholders of toll road operator PT Citra Marga Nusaphala Persada Tbk (CMNP) has allegedly taken over shares of PT Cipaganti Citra Graha Tbk (CPGT) which engages in transportation services, heavy equipment and coal mining business.
Former president director of CMNP, Shadik Wahono, reportedly is leading the consortium which now holds 28% stake in CMNP.
This consortium had recently raised funds through the repurchase agreement (repo) transaction for CMNP shares, used to fund the acquisition of CPGT shares.
CMNP declined 0.72% to Rp4,150 per share at morning trade today, gaining 24% year to date. While CPGT gained 0.9% to Rp110. The stock had lost 41% from its IPO price of Rp190 per share. But it had regained by 109% from its lowest at Rp53 in June 27, 2014.