Aneka Tambang, Bukopin, Medco Energi: Indonesia Equity Preview

The following stocks may have unusual price changes in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the last close.

The Jakarta Composite index slid 0.4 percent to 3,568.81.

Nickel producers: Nickel futures declined the most since Nov. 16 in London yesterday, dropping 1.8 percent to $24,550 a metric ton. PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, advanced 1.7 percent to 4,500 rupiah and PT Aneka Tambang (ANTM IJ), the second biggest, climbed 1.1 percent to 2,325 rupiah.

PT Bakrieland Development (ELTY IJ): The property developer’s revenue next year may rise 30 percent to 50 percent from this year, Kontan reported, citing Bakrieland President Director Hiramsyah Thaib. A revenue increase of 50 percent would amount to 2 trillion rupiah ($221 million), Kontan said. Bakrieland declined 1.2 percent to 160 rupiah.

PT Bank Bukopin (BBKP IJ): The Indonesian lender which is owned by cooperatives seeks to raise as much as 1.14 trillion rupiah through a rights offer in February, the Indonesian bank said in a prospectus published in Bisnis Indonesia. Bank Bukopin will offer about 2 billion shares at a range of 480 rupiah to 560 rupiah from Feb. 9 to Feb. 15. Bukopin advanced 1.5 percent to 670 rupiah.

PT Bank Mandiri (BMRI IJ): Indonesia’s biggest bank by assets will offer shares in a planned rights offer at a 15 percent to 20 percent discount to the market price, Bisnis Indonesia reported today, citing a person it didn’t identify. Mandiri fell 2.3 percent to 6,250 rupiah.

PT Medco Energi Internasional (MEDC IJ): Indonesia’s biggest listed oil company was rated “hold” in new coverage at Daiwa Securities Capital Markets Co., which said the stock “appears expensive” compared with its peers and the company will have poor production growth until 2015. The brokerage set a share-price estimate of 3,200 rupiah, according to a report by analyst Adrian Loh. Medco rose 1.6 percent to 3,125 rupiah.

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