April 29, 2013 / 3:05 AM / 5 years ago

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

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

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