JAKARTA (Yosefardi) – PT Bank Danamon Indonesia Tbk (BDMN) has Monday (Jan. 25) divested 2.93% shares of its unit PT Adira Dinamika Multi Finance Tbk (ADMF), to comply with minimum 7.5% free float regulation.
Then now BDMN holds 92.07% ADMF shares, from previous 95%. The free float regulation has been effective since January 30, 2014, fully implemented this year.
The Indonesia Stock Exchange (IDX) has issued new free float regulation requiring listed companies to deliver less than 50 million shares and less than 7.5% of enlarged shares capital to non controlling or main shareholders.