Bloomberg News

Bakrieland Gains to Three-Week High After Report on Unit IPO

October 12, 2011

Oct. 13 (Bloomberg) -- PT Bakrieland Development rose to a three-week high in Jakarta trading after Bisnis Indonesia reported the property developer expects to raise 2 trillion rupiah selling shares in a toll-road unit through an initial public offering and a private placement next year.

Bakrieland gained 3.4 percent to 123 rupiah as of 9:35 a.m. local time, set for the highest close since Sept. 22. A call to the company’s office in Jakarta wasn’t answered.

To contact the editor responsible for this story: Berni Moestafa at bmoestafa@bloomberg.net


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