April 6 (Bloomberg) -- Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index fell 0.4 percent to 3,685.94.
PT Bank Mandiri (BMRI IJ): Indonesia’s biggest bank by assets plans to buy a 60 percent stake in PT Asuransi Dharma Bangsa, an Indonesian insurance company, with the transaction likely to be completed in the third quarter of this year, Mandiri Finance Director Pahala Mansury said by telephone today. Mandiri fell 2.9 percent to 6,650 rupiah.
PT Berau Coal Energy (BRAU IJ): The company’s unit Berau Capital Resources Ltd. has received approval from bondholders to buy back guaranteed senior notes it sold in July 2010, Bisnis Indonesia reported, citing President Director Rosan P. Roeslani. Berau Coal was unchanged at 530 rupiah.
PT Elang Mahkota (EMTK IJ): The telecommunications and television company will offer to purchase a 72.76 percent stake in PT Indosiar Karya Media (IDKM IJ), Kontan reported, citing Corporate Secretary Titi Maria Rusli. Elang Mahkota has yet to decide when it will make the offer, the report said. Elang Mahkota slid 0.7 percent to 1,400 rupiah. Indosiar rose 3.5 percent to 900 rupiah.
PT Pembangunan Jaya Ancol (PJAA IJ): The developer that runs a recreation park in North Jakarta will cancel a proposed rights issue this year due to unfavorable market conditions, Kontan reported, citing President Director Budi Karya Sumadi. Jaya Ancol was planning to raise 200 billion rupiah ($23 million) through the rights issue in the second half of 2011, the report said. The stock fell 2.5 percent to 770 rupiah.
PT Tower Bersama Infrastructure (TBIG IJ): The telecommunication services company has budgeted $120 million to $160 million for capital expenditure this year, Kontan reported, citing Finance Director Helmi Yusman Santoso. Tower Bersama may seek loans to fund the spending, the report said. The stock was unchanged at 2,225 rupiah.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org