JAKARTA: PT Alfa Retailindo Tbk, a unit of retail giant PT Carrefour Indonesia, today announces a IDR9.63 billion cash offer for the public shareholders in a bid to proceed voluntary delisting from the stock market due to illiquid stock trading.The company will make a cash offer at IDR4,500 a share for the remaining shares currently held by public holders. The proposed price is nearly 90% premium from IDR2,400, the last trading in the market before Indonesia Stock Exchange suspended the share on April 28 2011.Alfa will seek approval from shareholders through shareholders meeting on June 30, 2011, the offer prospectus said today.The company had decided to go private because its shares traded by the investing public were no longer liquid. The amount of shares trading was so small and mostly only 1 lot for every transaction within 6 years. The other reason is the company no longer needs to raise fund from public.Currently public investor only owns 0.46% of Alfa shares. The majority shareholder is PT Carrefour Indonesia with 99.54%. Carrefour Indonesia is owned by PT Trans Retail, which held 40%, Carrefour S.A. with 39.02%, Onesia BV with 11.02%, and Carrefour NBV 9.51%. (wiw)

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