Indonesia's BTPN shares leap 9 percent on Japan SMBC stake buy report

HONG KONG Sun Apr 28, 2013 11:01pm EDT

The logo of Bank Tabungan Pensiunan Nasional Tbk PT (BTPN) is seen at the bank's headquarters in Jakarta, in this file picture taken May 11, 2011. REUTERS/Enny Nuraheni/Files

The logo of Bank Tabungan Pensiunan Nasional Tbk PT (BTPN) is seen at the bank's headquarters in Jakarta, in this file picture taken May 11, 2011.

Credit: Reuters/Enny Nuraheni/Files

HONG KONG (Reuters) - Shares in Indonesian lender BTPN (BTPN.JK) surged 9 percent on Monday after Reuters reported at the weekend that Japan's Sumitomo Mitsui Banking Corp was in advanced talks to buy a 40 percent stake in the company from private equity firm TPG Capital.

Shares in Indonesia's seventh-biggest lender by market value, Bank Tabungan Pensiunan Nasional Tbk PT (BTPN), were trading at 5,450 rupiah by 0240 GMT, while the benchmark Indonesian share index .JKSE was up 0.3 percent.

SMBC is a unit of Japan's third-largest lender by assets Sumitomo Mitsui Financial Group Inc (8316.T). SMFG shares were not traded on Monday due to a public holiday in Japan.

(Reporting by Denny Thomas; Editing by Daniel Magnowski)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.