Fidelity offloaded 195m BUMI shares

Fidelity offloaded a net of 195 million PT Bumi Resources (BUMI) Tbk shares for the week ended July 6 in the price range of US$0.17-0.18. 
Fidelity informed Capital Market Supervisory Agency (Bapepam) on Wednesday that its ownership of BUMI was 4.52% as of July 6th, declined from 5.53% in June 30. BUMI dropped 2.63% on Thursday.

BUMI reached its peak at Rp8550 in June 2008, but since then dropped 95% to as low as Rp425 in January 2009. BUMI rebounded to reach its recent peak of Rp2250 (June 10) before retreated to Rp1840 today. Trading of BUMI stock has been less active in the past few weeks with daily volume of less than 500 million shares.

There are 40,322 investors holding BUMI's 19.4 billion shares, consisted of 38,761 individuals and hundreds of institutions. Foreign investors currently control 58.43% shares.

BUMI is the largest coal group in Indonesia with two major producing assets: PT Kaltim Prima Coal and PT Arutmin Indonesia. Its market capitalization is around US$3.5 billion

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