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 gained 0.5 percent to 3,859.81.
PT Bank Permata (BNLI IJ): The bank that is partly owned by Standard Chartered Plc plans to sell 1 trillion rupiah ($117 million) of seven-year subordinated bonds in June to strengthen its capital base, the lender said in a statement published in Bisnis Indonesia. Bank Permata rose 0.6 percent to 1,710 rupiah.
PT Bumi Serpong Damai (BSDE IJ): Indonesia’s second-largest property developer will spend 1 trillion rupiah to buy 300 hectares to 400 hectares of land this year as part of an expansion plan of its BSD City project near Jakarta, Investor Daily Indonesia reported, citing Finance Director Lie Jani Harjanto. Bumi Serpong Damai fell 2.2 percent to 910 rupiah.
PT Medco Energi Internasional (MEDC IJ): Indonesia’s largest listed oil company plans to spend $1.2 billion in the next four years to fund the development of 10 projects in Indonesia and overseas, Investor Daily Indonesia reported, citing President Director Lukman Mahfoedz. Medco fell 0.9 percent to 2,725 rupiah.
PT Telekomunikasi Indonesia (TLKM IJ): Shareholders of Indonesia’s biggest telephone operator approved a plan to buy back up to 3.2 percent of the company or about 645 million shares from the market, President Director Rinaldi Firmansyah said. Telekomunikasi plans to buy the shares for 7,750 rupiah each or as much as 5 trillion rupiah ($584.6 million) over an 18-month period starting May 20, he said in Jakarta. Telkom, as the company is also known, fell 1.9 percent to 7,600 rupiah.