May 13 (Bloomberg) -- 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 climbed 23.31 points, or 0.6 percent, to 3,832.02. The measure gained 0.9 percent this week.
PT Bank Pembangunan Daerah Jawa Barat dan Banten (BJBR IJ), owned by the Indonesian provinces of West Java and Banten, rose 4 percent to 1,290 rupiah, the biggest increase since March 28. PT Kim Eng Securities initiated coverage on the stock with a “buy” rating and a share-price estimate of 1,450 rupiah in a note today, calling the lender an “attractive dividend player.”
PT Bank Central Asia (BBCA IJ), the nation’s largest bank by market value, climbed 1.4 percent to 7,300 rupiah, the biggest boost to the Jakarta Finance Index. The company’s PT BCA Finance unit will sell as much as 1 trillion rupiah ($117 million) of bonds in June to fund its working capital, it said in a prospectus in Bisnis Indonesia.
PT Barito Pacific (BRPT IJ), an Indonesian ethylene maker, jumped 8.5 percent to 1,150 rupiah, the steepest gain since Sept. 27. The company may expand into the renewable energy and transportation industries as it seeks to “diversify and integrate” its natural resource-based businesses, Agustino Sudjono, an investor relations officer at the company said, confirming a report by Bisnis Indonesia today.
PT Lippo Securities (LPPS IJ), an Indonesian brokerage, sank 7 percent to 80 rupiah, the most since Dec. 20 after it said in a statement to the stock exchange today that it plans a one-for-two reverse-stock split in June which will reduce the number of shares trading in the market.
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