JAKARTA (Yosefardi) – Property developer Alam Sutera Realty (ASRI) dropped further by 3.75% Wednesday (June 12) as investors continued selloffs.
More than 155 million shares were exchanged hands, while the stock dropped to as low as Rp750 this morning. Trading volume was substantially higher than average daily trading in the past three months of 98 million shares.
Alam Sutera has gained substantially from Rp410 in September 2012 to as high as Rp1160 in March 2013, but has since steadily declined to Rp750 this morning.
Alam Sutera is among the most aggressive property developers in recent years, raising substantial funds from offshore debt market.