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 rose 1.3 percent to 3,907.42.
PT Borneo Lumbung Energi & Metal (BORN IJ): The coking coal producer is considering buying a stake in PT Bumi Resources Minerals (BRMS IJ) at the end of 2012 or in 2013, Investor Daily Indonesia reported, citing a person it didn’t identify. Borneo Lumbung fell 1.2 percent to 840 rupiah and Bumi Minerals gained 3.5 percent to 590 rupiah.
PT Tambang Batubara Bukit Asam (PTBA IJ): The state-owned coal producer may reduce the amount of shares it plans to buy back from the initial target of 115 million after the price rose, Kontan reported, citing President Director Milawarma. Bukit Asam slid 0.3 percent to 18,350 rupiah.
PT Indocement Tunggal Prakarsa (INTP IJ): Indonesia’s second-largest cement producer may spend as much as $250 million this year as part of a $500 million investment to build two cement plants with annual capacities of 2 million tons to 2.5 million tons, Kontan reported, citing Corporate Secretary Sahat Pangabean. Indocement advanced 3.4 percent to 18,050 rupiah.