JAKARTA (Yosefardi) – Consumer goods giant Unilever Indonesia (UNVR) has surged past automotive giant Astra International (ASII) as the second largest company on Indonesia Stock Exchange (IDX) by market capitalization.
Unilever ended Tuesday’s trading higher by 2.94% to Rp31,500. At this price, Unilever has market capitalization of Rp240.3 trillion. Astra, meanwhile, ended flat at Rp5900 to make market cap of Rp238.8 trillion.
While Unilever Indonesia dropped 9% from its peak, Astra International lost 29%.
Bank Central Asia, meanwhile, dropped to fifth largest behind Telkom (Rp221.8 trillion). Cigarette giant HM Sampoerna is still the largest company with Rp289.7 trillion, but the free float is very low.