JAKARTA (Yosefardi) – Shares of property company PT Pakuwon Jati Tbk (PWON) has gained by 90% in past one year, with the hedge fund and pension fund institutions investing the most on the stock.
On Tuesday (Jan 13), the Government of Singapore Investment (GIC) on Tuesday (Jan 13) sold 2.36 billion PWON shares, or 4.9% of the enlarged capital, at price of Rp478 per share, or Rp1.1 trillion in total.
The transaction was made through crossing market at the Indonesia Stock Exchange (IDX) facilitated by UBS AG. PWON lost 1.67% to Rp471 at 3.18 pm Jakarta time today.
As at September 2014, Burgami Investment Ltd held 20.9% PWON shares, PT Pakuwon Arthaniaga 16.75%, Concord Media Investment Ltd 7.39% and Raylight Investment Ltd 7.15%. While public investors held 42.36%.
PWON targets its marketing sales to grow by 27% to Rp3.4 trillion this year from Rp3.13 trillion last year. It allocates capital expenditure (capex) of Rp2.5 trillion for this year.