The Indonesia Bank Restructuring Agency held 9% of First Pacific's stock through Holdiko Perkasa, an investment holding company and Badanpenyehatan Perbankan Nasional. It sold 6% of that holding, Barings said.
The agency sold 177.48 million shares at $2.28 each. The price represented a 4.8% discount to the average price of First Pacific's stock in the two weeks preceding the sale...