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Shares of Indonesian brokerage PT Trimegah Securities, slumped as much as 3.28 percent on Thursday after the company said 49 percent of its stake was taken over by the Indonesian private equity firm, Northstar Pacific for 200 billion rupiah ($20.83 million).
Local media reported, Northstar spent 117 rupiah per share, but Trimegah corporate secretary, Agus D Priyambada said he had not received any official notice on the share acquisition.
The underwriter's stock was down 2.5 percent at 118 rupiah, while the broader Jakarta Composite Index fell 0.21 percent.
1040 (0340 GMT) (Reporting by Andjarsari Paramaditha; Editing by G.Ram Mohan)