LONDON (Indonesia Today) – Bumi Plc dropped as much as 35% in London Monday (Sept 24) following announcement of an independent investigation against financial irregularities at Bumi Resources (BUMI) and Berau Coal Energy (BRAU).
Bumi Plc, which has 29% shares in BUMI, dropped 23% last Friday (Sept 21). On Monday, around 1.6 million shares were exchanged hands in London, when the stock dropped 35% to its historical low of 127 pence.
In Jakarta, BUMI slashed by 16.67% to Rp700 with over 274 million shares exchanged hands, while BRAU dropped 8.78% with over 127 million shares exchanged hands.??
Borneo Lumbung Energi (BORN), partner of Bakrie Group in Bumi Plc, also down 8.62% in Jakarta. UK financier Nathaniel Rothschild is also substantial shareholder in Bumi Plc.
On Monday, Bumi Plc announced that an independent investigation is being commissioned on financial irregularities at BUMI and BRAU. (Indonesia Today)
Further Reading: When Bumi Investigates BUMI at Yosefardi.com.
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