JAKARTA (Yosefardi) – Shares of giant coal miner PT Bumi Resources Tbk (BUMI) jumped 8% to Rp540 per share this morning, extending its gain in past three trading days.
The stock had fallen 46% from its pick (Rp1,000) year to date.
Media earlier reported Bakrie Group would acquire Bumi Plc’s 29.2% interest in Bumi Resources for US$500 million in cash.
First of all, Bakrie Would sell its 23.8% interest in Bumi Plc to Borneo Lumbung Energi & Metal (BORN), a company controlled by Samin Tan.
If approved, Samin Tan will control 47.6% shares in Bumi Plc, which gives him an indirect control of around 40% shares in PT Berau Coal Energy Tbk (BRAU).
At 11.47 am Jakarta time, Berau Coal gained 2.42% to Rp160 per share while Borneo Lumbung was flat at Rp335 per share.