Indonesia Stocks: Bank Internasional, Bumi Minerals, Indocement

Indonesia’s Jakarta Composite index gained 16.10 points, or 0.4 percent, to 3,786.10 at 4 p.m. local time, a record close.

PT Bank Internasional Indonesia (BNII IJ), the local unit of Malayan Banking Bhd., jumped 25 percent to 1,010 rupiah, the highest since April 2000. Indonesia’s regulator extended a deadline by six months for Malayan Banking to sell 20 percent of Bank Internasional’s stock. The shares rose on the expectation Malayan Banking will sell the stake at a “higher price,” said John Teja, head of sales at PT Ciptadana Securities.

PT Bumi Resources Minerals (BRMS IJ), a mining company, advanced 10 percent to 700 rupiah on its trading debut. Bumi Minerals said its unit obtained a permit from the forestry ministry to start exploration and feasibility studies in Gorontalo province in Sulawesi island. The company sold 3.3 billion shares at 635 rupiah apiece in an initial public offering last week.

PT Indocement Tunggal Prakarsa (INTP IJ), the second- biggest cement maker, fell 3.8 percent to 16,350 rupiah, the steepest drop since Nov. 3. An investor at Indocement offered 60 million of the company’s shares for sale at 16,000 rupiah to 17,000 rupiah each, equal to or less than yesterday’s closing price, according to data compiled by Bloomberg.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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