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
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