Bloomberg News

Indonesian Stock Movers: Bank Bukopin, Tiphone Mobile Indonesia

January 12, 2012

Jan. 12 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of 10:11 a.m. in Jakarta.

The Jakarta Composite index rose 0.2 percent to 3,915.89.

PT Bank Bukopin (BBKP IJ), an Indonesian lender, rose 3.2 percent to 650 rupiah, set for the highest close since Nov. 17. Bukopin plans to sell 1 trillion rupiah ($109 million) of subordinated debt in the first quarter to boost capital, Investor Daily Indonesia reported, citing President Director Glen Glenardi. Corporate Secretary Tantri Wulandari couldn’t be reached when called at her office.

PT Tiphone Mobile Indonesia (TELE IJ), which sells the local-branded Tiphone mobile phone, increased 11 percent to 345 rupiah on its trading debut. The company raised 410 billion rupiah in an initial public offering last week to help repay debt and fund working capital.

--Editor: Chan Tien Hin

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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