Equity Analysis /

ID : Indofood CBP - Clarification on investment in MEGA

    Patricia Gabriela
    Patricia Gabriela

    Research Analyst

    28 March 2022
    Published by

    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.