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Indonesia Stocks: Bank Agroniaga, Bukit Asam, London Sumatra

March 10 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the 4 p.m. Jakarta-time close.

The Jakarta Composite index slid 0.3 percent to 3,587.65.

PT Bank Agroniaga (AGRO IJ), an Indonesian lender focusing on small to medium enterprises in the agricultural sector, rose 16.8 percent to 174 rupiah, the steepest increase since July 13, 2010. PT Bank Rakyat Indonesia (BBRI IJ), owner of an 88.22 percent stake in the company, said it plans to buy the remaining stake of Bank Agroniaga that the state-owned bank doesn’t already own through a tender offer from March 31 until April 20. Bank Rakyat was unchanged at 5,150 rupiah.

Palm oil producers: PT Astra Agro Lestari (AALI IJ) dropped 2.6 percent to 22,700 rupiah and PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ) gained 1.1 percent to 2,375 rupiah. Crude palm oil futures for May delivery declined 3.5 percent in Kuala Lumpur.

PT Tambang Batubara Bukit Asam (PTBA IJ), an Indonesian state-owned coal producer, rose 1.2 percent to 20,550 rupiah, set for the highest close since Jan. 20. The company expects sales volume to rise 23 percent this year to 16.8 million metric tons and it has agreed to sell the fuel to state utility PT Perusahaan Listrik Negara and its unit at higher prices.

To contact the reporter on this story: Yoga Rusmana in Jakarta at yrusmana@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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