Noonday decreases stake in Indosat to 3%

By Angela McDaniels

Tacoma, Wash., March 12 - PT Indosat Tbk investors led by Noonday Asset Management, LP sold 27,020 American Depositary Shares on March 5 and Wednesday, according to a schedule 13D/A filing with the Securities and Exchange Commission.

The majority of the ADSs were sold for $31.01 each, and 52 of them were sold for $17.76 each.

Each ADS represents 50 class B shares.

The investors also sold a large number of shares between Feb. 23 and Wednesday.

Following the sales, the investors beneficially own 162,095,800, or 3%, of the company's shares, including shares represented by ADSs.

In August, the investors owned 432,226,800 shares, or 8%, of the Jakarta, Indonesia-based telecommunications network and service provider.

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