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 0.5 percent to 4,008.64.
PT Aneka Tambang (ANTM IJ): PT Perusahaan Listrik Negara, the state utility, will build steam and diesel powered plants in Indonesia’s North Maluku province with a combined capacity of 230 megawatts and sell the electricity to Aneka, the Investor Daily Indonesia reported, citing Murtaqi Syamsuddin, a director for business and risk management at Listrik Negara. Aneka, the nickel producer that is building a ferronickel smelter in Halmahera, was unchanged at 1,870 rupiah.
PT Buana Listya Tama (BULL IJ): Parent company PT Berlian Laju Tanker said it obtained an order from the High Court of Singapore that will prevent its ships from being impounded while it “puts in place a successful restructuring.” Buana, a provider of freight transportation services, was unchanged at 67 rupiah.
PT Garuda Indonesia (GIAA IJ): PT Danakreksa Sekuritas, PT Bahana Securities and PT Mandiri Sekuritas will sell their stakes in the national flag carrier this month at a 10 percent premium to the market price, the Bisnis Indonesia reported, citing State Enterprises Minister Dahlan Iskan. The three state brokerages acquired Garuda shares when they underwrote the airline’s initial public offering in February last year, the report said. Garuda rose 3.5 percent to 590 rupiah.
PT Leo Investments (ITTG IJ): The investment company will spend 87.4 billion rupiah ($9.5 million), or 85 percent of the proceeds from its planned rights offer, to develop a coal-bed methane project, the Bisnis Indonesia reported, citing a company document. Leo plans to raise 102.4 billion rupiah from selling 985 million shares at 104 rupiah each, the report said. The stock climbed 1.1 percent to 91 rupiah.
PT Pakuwon Jati (PWON IJ): The property developer plans a four-for-one stock split to boost trading in its shares, the Bisnis Indonesia reported, citing Irene Tedja, an investor relations officer and director at the company. Pakuwon gained 1.2 percent to 840 rupiah.
PT Timah (TINS IJ): Tin futures advanced 3.3 percent to $24,250 a metric ton in London yesterday, the steepest gain since Feb. 7. Timah, Indonesia’s largest producer of the metal, was unchanged at 1,890 rupiah.