Indonesian Stocks: Adaro Energy, Bumi Resources, Supra Boga

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 4 p.m. Jakarta-time close.

The Jakarta Composite index fell 0.74 point, or less than 0.1 percent to 3,840.7.

Coal producers: PT Bumi Resources (BUMI) , Indonesia’s biggest coal producer, rose 3.2 percent to 1,290 rupiah and PT Adaro Energy (ADRO) , the second-largest, gained 2.4 percent to 1,300 rupiah.

The Energy Ministry has no plan to impose a duty on coal exports or “ban” exports of the fuel, Energy Minister Jero Wacik said, reiterating his ministry’s statement on April 17.

PT Supra Boga Lestari (RANC IJ), a food retailer, jumped 34 percent to 670 rupiah on its trading debut. The company raised 156.45 billion rupiah ($16.6 million) in an initial public offering to fund store expansion, repay debt and to raise working capital.

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

Bloomberg reserves the right to edit or 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.