JAKARTA (Yosefardi) – Shares of coal producer Garda Tujuh Buana (GTBO) plummeted 18.2% Thursday (September 5th) after IDX management resumed its trading.
The stock lost Rp400 to Rp1800. The stock collapsed from as high Rp7300 following termination of coal supply contract with Agrocom Ltd.
Trading in the stock was suspended in May 2013 as authorities seek clarification of the company’s going concern.
Shares of other coal producers were also in red as Borneo Lumbung Energi retreated 9.43%, while Berau Coal down 3.1%. Adaro Energy and Bumi Resources also lost ground.
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