STOCKS NEWS INDONESIA- Astra Otoparts falls on stake sale announcement

Newswire

Shares in PT Astra Otoparts dropped as much as 5.88 percent on Thursday after its parent company, PT Astra International, announced a stake sale in the automotive spare parts distributor. Astra International, controlled by Singapore's Jardine Cycle & Carriage Ltd, expects to raise 2.8 trillion rupiah ($285.64 million) by selling 15 percent in Astra Otoparts through a private placement, said director Robby Sani. Indonesia's main vehicle distributor and ...

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