Bisi International, Indika, Timah: 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 0.9 percent to 3,847.02.

PT Indika Energy (INDY IJ): The coal producer plans to sell a minimum 18.5 percent stake in oil and mining services company PT Petrosea (PTRO IJ) in September, Bisnis Indonesia reported, citing Senior Manager Imelda Triana. Indika declined 1.6 percent to 3,150 rupiah. Petrosea was unchanged at 35,000 rupiah when it last traded Aug. 16.

PT Bisi International (BISI IJ): The corn and rice-seed producer has agreed to buy a 45.79 percent stake in PT Tanindo Subur Prima from Chia Tai Co. for $6.3 million, according to a statement published in Investor Daily. Bisi declined 0.8 percent to 1,210 rupiah.

PT Timah (TINS IJ): Indonesia’s biggest tin producer said first-half net income more than doubled from a year earlier to 689 billion rupiah ($80 million). Sales increased to 4.83 trillion rupiah from 3.75 trillion rupiah a year earlier, the company said. Timah declined 2.3 percent to 2,175 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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