Shares of Bank Pan Indonesia (PNBN) lost 4% to Rp2,160 on Friday last week (August 26) as investors digesting report about Sumitomo Mitsui Financial Group’s intention to become controlling shareholder. PNBN, co-owned by Mu’min Ali Gunawan and ANZ Banking Group, has rallied 41% since August 22 on said report. At current price, it is worth Rp52 trillion (market capitalization).
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