Private equity firm CVC Capital Partners and Indonesian internet and cable operator PT First Media plan to sell up to $668 million in shares in broadband provider PT Link Net Tbk in what would be Jakarta's biggest stock sale in over 18 months.The sale, announced on Monday, will allow Link Net's biggest investors to cash in on a surge that has seen the network provider's stock price quadruple since a mid-May initial public offering as more and more Indonesian households go online. Link Net expects sales to grow 20 percent in 2014 as it adds up to 250,000 new homes.CVC, First Media and two other minority shareholders are offering 1.22 billion of shares in Link Net in an indicative range of 6,200-6,700 rupiah apiece, according to a term sheet of the deal seen by Reuters.The deal received commitments worth $257 million from nine cornerstone investors including fund manager BlackRock Inc. , hedge fund firm Och-Ziff Capital Management Group LLC and Goldman Sachs Investment Strategies, said a source with direct knowledge of the matter who couldn't be named because details of the deal aren't public.
BlackRock, Inc. (BlackRock) is an investment management firm. Shares of BLK fell by 2.01% or $-6.34/share to $308.87. In the past year, the shares have traded as low as $277.50 and as high as $337.65. On average, 586120 shares of BLK exchange hands on a given day and today's volume is recorded at 795712.
Och-Ziff Capital Management Group LLC (Och-Ziff) is an institutional alternative asset managers. Shares of OZM fell by 1.04% or $-0.11/share to $10.50. In the past year, the shares have traded as low as $10.18 and as high as $16.00. On average, 1087790 shares of OZM exchange hands on a given day and today's volume is recorded at 2136426.
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