Trading Suspension Revoked; BUMI Plummets
8 October 2014 17:04 WIB
TEMPO.CO, Jakarta - The stock price of PT Bumi Resources Tbk (BUMI), Bakrie Group's coalmining subsidiary, plummeted after the Indonesia Stock Exchange revoked its trading suspension yesterday. BUMI dropped further down after the company announced that its rights issue went unabsorbed by the market.
"The bourse decided to temporarily revoke the suspension on BUMI in all markets starting from October 7th's first trading session," IDX daily executive Nunik Gigih Ujiani said in a written statement.
In yesterday's trade opening, BUMI slipped seven points to Rp183 per share, dropping further in the afternoon to Rp152 per share, which is BUMI's lowest price in the last 11 years. Overall, BUMI's price have dropped 99.3 percent, year-to-date.
FAIZ NASHRILLAH | DINI PRAMITA | GANGSAR PARIKESIT