Market Watch
Stock market is waiting the closing of two important deals scheduled today. First, the US$3.25 billion acquisition of PT Bumi Resources Tbk's subsidiaries (PT Kaltim Prima Coal and PT Arutmin Indonesia) by PT Borneo Lumbung Energi. Second, the US$330 million acquisition of Cemex SA's 24.9% shares in PT Semen Gresik Tbk by Rajawali Corporation. Updates will be available in this blog by afternoon.
Besides, PT CP Prima is about to announce the decision on its IPO amid rumors that it might drop the plan on weak market respond. Meanwhile minority shareholders of PT Tunas Baru Lampung Tbk had lost the battle to block the rights issue as 74% shareholders endorsed the plan to raise Rp400 billion that will dilute significantly their shares ownership. Sinarmas Sekuritas, a subsidiary of PT Sinar Mas Multiartha (sub-holding of Sinar Mas Group in financial business), could be a significant shareholder in Tunas Baru pursuant to the rights issue plan as the standby buyer.
Morning trading session at JSX seems pretty good with the composite index increased 29 points, triggered by Central Bank's plan to cut rates instead of raising it following The Fed's decision to raise the rate by 25 basis point yesterday. Rupiah gained in morning trading of weaker greenback as a result of the increasing Fed rate.
READ MORE!!!
Besides, PT CP Prima is about to announce the decision on its IPO amid rumors that it might drop the plan on weak market respond. Meanwhile minority shareholders of PT Tunas Baru Lampung Tbk had lost the battle to block the rights issue as 74% shareholders endorsed the plan to raise Rp400 billion that will dilute significantly their shares ownership. Sinarmas Sekuritas, a subsidiary of PT Sinar Mas Multiartha (sub-holding of Sinar Mas Group in financial business), could be a significant shareholder in Tunas Baru pursuant to the rights issue plan as the standby buyer.
Morning trading session at JSX seems pretty good with the composite index increased 29 points, triggered by Central Bank's plan to cut rates instead of raising it following The Fed's decision to raise the rate by 25 basis point yesterday. Rupiah gained in morning trading of weaker greenback as a result of the increasing Fed rate.
Labels: Bumi Resources, COAL, Rajawali Corp, Sinar Mas
READ MORE!!!
posted by yosef at 11:07 AM
0 Comments:
Post a Comment
<< Home