Mitra, Wahana, Panin, United Tractors: 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) fell 0.4 percent to 3,908.96.

PT Bank Internasional Indonesia (BNII IJ): The Indonesian unit of Malayan Banking Bhd. is buying an 11.97 percent stake of PT Wahana Ottomitra Multiartha (WOMF IJ) from International Finance Corp., Investor Daily Indonesia reported, citing Bank Internasional Director Rita Mirasari. The company will have a 62 percent stake in Wahana Ottomitra after the acquisition is completed, the report said. Bank Internasional was unchanged at 570 rupiah. Wahana Ottomitra, a financing company, declined 1.3 percent to 390 rupiah.

PT Bank Pan Indonesia (PNBN IJ): The Indonesian lender is selling a 15.36 percent stake in PT Jakarta Setiabudi Internasional (JSPT IJ) to Nomura Singapore Ltd for 138 billion rupiah ($16 million), Investor Daily Indonesia reported, citing Asan Effendy, corporate secretary at Jakarta Setiabudi. Bank Panin Vice President Director Roosniati Salihin said she wasn’t aware of the transaction, the report said. Bank Panin was unchanged at 890 rupiah and Jakarta Setiabudi fell 1.7 percent to 590 rupiah when it last traded May 3.

PT Mitra International Resources (MIRA IJ): The energy and transportation services provider will restructure $714 million of debt this year, including debt used to acquire oil drilling unit PT Apexindo Pratama Duta from PT Medco Energi Internasional, Bisnis Indonesia reported, citing Director Inu Dewanto Koentjaraningrat. Mitra was unchanged at 160 rupiah when it last traded June 30.

PT United Tractors (UNTR IJ): PT Pamapersada Nusantara, a unit of the company, spent $21 million to buy a 20 percent stake in PT Bukit Enim Energi, Investor Daily Indonesia reported. United Tractors, Indonesia’s biggest heavy equipment seller, also plans to acquire another coal mining company, the report said, citing Finance Director Gideon Hasan. United Tractors fell 1.2 percent to 24,650 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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