Chandra Asri, Delta Dunia, Samudera: Indonesia Equity Preview

Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index (JCI) rose 0.6 percent to 3,832.02.

Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, fell 3.2 percent to $118.74 a metric ton in the week ended May 13, according to the globalCOAL NEWC Index.

PT Bumi Resources (BUMI IJ), Asia’s biggest exporter of power-station coal, slipped 0.7 percent to 3,525 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-largest coal producer, gained 1.1 percent to 2,275 rupiah.

PT Chandra Asri Petrochemical (TPIA IJ): The polypropylene producer plans to sell 827.9 million new shares at between 2,300 rupiah and 4,350 rupiah each in a rights offer next month to fund working capital and expansion plans, the company said in a statement published in Bisnis Indonesia. Chandra Asri climbed 1.7 percent to 4,625 rupiah.

PT Delta Dunia Makmur (DOID IJ): A unit of the Indonesian mining contractor obtained a seven-year syndicated loan of $800 million from 10 banks, Delta Dunia said in an e-mailed statement in Jakarta. The unit, PT Bukit Mandiri Utama Makmur, will use about $750 million of the loan to refinance debt and fund “future capital expenditure,” Delta Dunia said. The stock rose 0.8 percent to 1,270 rupiah.

PT Medco Energi Internasional (MEDC IJ): Indonesia’s largest listed oil company plans to sell $150 million of bonds and has named PT Bahana Securities as the lead underwriter for the sale, Bisnis Indonesia reported, citing Bahana President Director Eko Yuliantoro. About 60 percent of the proceeds will be used to refinance debt, the report said, citing a person it didn’t identify. Medco gained 1.9 percent to 2,750 rupiah.

PT Samudera Indonesia (SMDR IJ): Indonesia’s second-biggest shipping company has allocated 1.5 trillion rupiah ($175 million) for this year’s capital expenditures to support expansion plans, Kontan reported, citing Operational Director Asmari Herry Prayitno. Samudera advanced 1.8 percent to 4,225 rupiah.

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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