OUE subscribes for all of Indonesian investment holding firm's shares

Its subsidiary Tengara Holdings subscribed for 99.9% of PT Deer Pine Indonesia’s shares for $1.1m.

Through its subsidiaries, property firm OUE has subscribed for all the shares of Indonesian investment holdings firm PT Deer Pine Indonesia, an announcement revealed.

Also read: OUE sells entire equity stake in Nuvest Capital for $1m

The firm’s subsidiary, Tengara Holdings, subscribed for 99.9% of PT Deer Pine Indonesia’s shares for approximately $1.1m (IDR10.99b). OUE’s other subsidiary OUE Coral subscribed for the remaining 0.09% for $1,000 (IDR10m).

Following the subscription, PT Deer Pine Indonesia has become an indirect wholly-owned subsidiary of OUE.

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