Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Rajawali Buys 23.6% of Nusantara Infrastructure

Nov. 26 (Bloomberg) -- Indonesia’s Rajawali Group said it bought a 23.6 percent stake in construction company PT Nusantara Infrastructure for about 448 billion rupiah ($49.7 million) today to support its mining business.

Rajawali bought 3.2 billion Nusantara shares from Infrastructure Growth Fund at 140 rupiah apiece, or 36 percent below yesterday’s closing price. Shares of Nusantara jumped 11 percent to 245 rupiah at the 4 p.m. close in Jakarta, beating the 1.6 percent drop in the benchmark stock index.

“Part of our business is mining and that’s closely related to infrastructure projects such as roads, ports and railways,” Darjoto Setyawan, managing director at Rajawali, said by phone today. “If someone offered more shares in Nusantara we’d like to buy them.”

Jakarta-based Nusantara, which operates toll roads, may benefit from Rajawali’s entrance as faster economic growth boosts demand for commodities such as coal and metals. Southeast Asia’s biggest economy may expand as much as 6.5 percent next year from an estimated 6 percent this year, the central bank said Nov. 25.

“The share sale is good for Nusantara as this may allow them to get new infrastructure projects from Rajawali,” said Ikhsan Binarto, an analyst at PT Indo Premier Securities.

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Greg Ahlstrand at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.