Indonesian Stocks: Bank Danamon, Borneo Lumbung Energi & Metal

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the close in Jakarta.

The Jakarta Composite Index (JCI) rose 1.2 percent to a record 4,215.44. The gauge climbed for a sixth day, its longest winning streak since the seven days through Jan. 5, 2011.

PT Bank Danamon Indonesia (BDMN) , the Indonesian bank owned by Singapore’s Temasek Holdings Pte, surged 39 percent to 6,400 rupiah, the biggest gain since April 22, 1999. DBS Group Holdings Ltd. offered to buy Danamon for about $7.2 billion. DBS will pay Temasek 45.2 trillion rupiah ($4.9 billion) for its 67 percent stake in Danamon and buy the remaining stock from other shareholders for 21.2 trillion rupiah in cash. Trading in Danamon shares was suspended yesterday.

PT Borneo Lumbung Energi & Metal (BORN) , a coal producer, rose 3.5 percent to 880 rupiah, the steepest increase since Jan. 17. A $1 billion loan to Borneo fully funded by Standard Chartered Plc in January has attracted a $200 million commitment from First Gulf Bank PJSC, a person familiar with the matter said. Ken Allan, Borneo Lumbung’s marketing director, didn’t immediately return a phone message or e-mail seeking comment on the financing.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.