Sampoerna looking to comply with exchange ruling

Philip Morris International said on Friday that its Indonesian subsidiary, Sampoerna, in which it holds a 98.18 percent interest, would explore options to comply with the Indonesian Stock Exchange’s (IDX) mandatory requirement of a minimum threshold for public shareholding.

On January 30, 2014, IDX introduced a regulation requiring all listed public companies to have at least 7.5 percent of their total paid up capital owned by the public by January 30, 2016.

‘Sampoerna has engaged investment banks to assist with the evaluation of various strategic options to fulfill this requirement’ PMI said in a note posted on its website.

‘These include potential capital market transactions.’