Indonesian Stock Movers: Toba Bara Sejahtra, XL Axiata
The Jakarta Composite Index (JCI) fell 0.4 percent to 4,055.2. The gauge has risen 2.5 percent this week, the steepest gain since the week ended March 2.
PT Toba Bara Sejahtra (TOBA) , a coal-mining company, jumped 12 percent to 2,125 rupiah on its first trading day after raising 400 billion rupiah ($42.6 million) in an initial public offering to raise working capital, repay debt and fund acquisition and exploration activities.
PT XL Axiata (EXCL) , a mobile-phone operator, climbed 0.8 percent to 6,250 rupiah after Investor Daily reported the company plans to repay 900 billion rupiah of loans and is seeking 630 billion rupiah to 720 billion rupiah of bank loans to refinance the debt. Two calls to XL Axiata’s office weren’t answered.
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