Adhi Karya, SMR Utama, Solusi Tunas: Indonesia Equity Preview
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 (JCI) gained 0.7 percent to 3,451.08.
Energy companies: Crude oil futures rose to a two-week high, advancing 2.9 percent to $85.41 a barrel in New York yesterday. Oil traded at $85.55 a barrel at 9:33 a.m. Singapore time.
PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, rose 2.4 percent to 2,100 rupiah and PT Energi Mega Persada (ENRG IJ), the second-largest, was unchanged at 125 rupiah.
PT Adhi Karya (ADHI IJ): The state construction company wants to raise 800 billion rupiah ($89.4 million) selling new shares in a rights offer in the second half of 2012 to help fund expansion, Investor Daily Indonesia reported, citing President Director Kiswodarmawan. Adhi rose 2.1 percent to 485 rupiah.
PT SMR Utama (SMRU IJ): The mining and natural resources company, which had its trading debut yesterday, wants to more than double its manganese output to 31,000 metric tons this year, from 13,500 tons last year, to meet growing demand, the Jakarta Globe reported, citing Adi Wibowo Adisaputro, a director at the company. SMR Utama rose 8.3 percent to 650 rupiah.
PT Solusi Tunas Pratama (SUPR IJ): The developer and builder of telecommunication towers will start trading today after raising 340 billion rupiah in an initial public offering this month to invest in new towers and acquisitions.
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