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Asahi plans majority shareholding in AMFG

PT Asahi Flat Glass Co., the holding company of PT Asahimas Flat Glass Tbk (AMFG), is planning to increase its stake from 39.6% to become the majority shareholder in the company.
Shinya Ishizu, presi…

PT Asahi Flat Glass Co., the holding company of PT Asahimas Flat Glass Tbk (AMFG), is planning to increase its stake from 39.6% to become the majority shareholder in the company. Shinya Ishizu, president director of PT Asahi Flat Glass Co., said the holding company has now controlled 181.14 million of AMFG shares as per September 2001. The volume continued to increase and the process has been going on since early March to 18 September. The Japan-based company bought yet another 218,500 shares on 25 September at Rp 1,100 per share. The price is Rp 175 higher than the purchasing value in March. “The increase of stake in AMFG in Indonesia is intended to proof our investment commitment in Indonesia remains high,” he said in a briefing to the Jakarta Stock Exchange. Ishizu said the company“s move to become the majority shareholder in Asahimas Flat Glass is related to Asahi Glass“s expansion programme in Asia. He added that the share purchasing activity had already been reported by Asahi Glass last April after the company bought 2.622 million shares throughout the March to April period at an average value of Rp 625.

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