JAKARTA (Yosefardi) – Plantation company Salim Ivomas Pratama (SIMP) fell sharply by 5.2% to Rp730 Wednesday (July 10), the lowest level since its IPO.
More than 20 million shares were exchanged hands. Salim Ivomas, controlled by Salim Group, has collapsed 50% since July 2012 despite buyback of shares from the market.
Sister London Sumatra Plantation (LSIP), meanwhile, regained grounds and closed higher by 2.68% with over 11 million shares traded.
Peers Sampoerna Agro, BW Plantation, and JA Wattie also ended lower, while Bakrie Sumatra inched up 2%.
SIMP is one of the largest crude palm oil (CPO) producers in the country. CPO ended lower by RM22 in the futures market Wednesday.