Gudang Garam block

Broad demand for small block in Indonesian cigarette maker

A surprisingly large number of investors submit orders as an undisclosed institutional investor sells $63 million of stock in Indonesia's Gudang Garam.
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Gudang Garam's main office in Kediri, East Java
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<div style="text-align: left;"> Gudang Garam's main office in Kediri, East Java </div>

The general view among bankers in recent weeks has been that investors are primarily interested in big, liquid names, so it is encouraging to see that some do have an appetite for small deals in less actively traded stocks as well. Of course, it doesn’t hurt when the company in question is based in Indonesia and exposed to domestic consumption two themes that investors have remained relatively enthusiastic about this year while the European headwinds have stifled the more export-oriented sectors and countries in Asia.

Even so, the fact that more than 40 accounts were estimated to have submitted orders for a fixed-priced block trade of just Rp593.5 billion $63...

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