Equity Analysis /
Indonesia

ID : Indofood CBP - Clarification on investment in MEGA

    CGS-CIMB
    28 March 2022
    Published byCGS-CIMB

    Today (28 Mar 2022), ICBP clarified news reports regarding ICBP’s and parent company INDF’s investment in buku-III bank MEGA. The investment was not new. ICBP has held a 3% stake (vs. c.5% reported) since the 1990s. ICBP and INDF collectively own a 7% stake in MEGA. We reiterate our Add call on ICBP.