April 24 (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 0.6 percent to 4,155.49.
Bakrie Group related companies: PT Bakrie & Brothers, an Indonesian family palm oil-to-property empire founded in 1942, needs to raise about $100 million in cash by the end of this week as loan collateral, a person familiar with the matter said.
PT Bakrieland Development (ELTY IJ), a property developer, fell 5.6 percent to 118 rupiah, PT Bakrie Sumatera Plantations (UNSP IJ), a palm oil and rubber producer, lost 3.3 percent to 295 rupiah and PT Bumi Resources (BUMI IJ), Indonesia’s largest coal producer, sank 7.4 percent to 1,990 rupiah.
Nickel producers: Nickel futures declined 1.4 percent to $17,550 a metric ton in London yesterday, the most since April 16. PT Vale Indonesia (INCO IJ), the nation’s biggest producer of the metal, fell 2.3 percent to 3,125 rupiah. PT Aneka Tambang (ANTM IJ), the second largest, lost 2.3 percent to 1,730 rupiah.
PT Garuda Indonesia (GIAA IJ): PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas may raise about 1.5 trillion rupiah ($163 million) selling a 10.8 percent stake in the state-owned airline at a price of 620 rupiah to 650 rupiah a share, Investor Daily Indonesia reported, citing Pandu Djajanto, a deputy to the state enterprises minister. The transaction is expected to be completed by April 26, the report said. Garuda, the national flag carrier, fell 1.6 percent to 630 rupiah.
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