There was a surprise in the Indonesia Stock Exchange (IDX) this morning as the stock price of PT Bumi Resources Tbk (BUMI), which since October 29, 2015 has remained at Rp 50 per share, started to rise to USD 64 per share until 10:30 GMT, after touching the level of USD 65 per share. The volume of transactions reached 1.35 billion shares worth Rp 79.58 billion.
What caused the rising stock price of BUMI? On Thursday (9/6), the judges in Central Jakarta Commercial Court granted the request to extend the debt payment obligations by BUMI for 22 days. The decision was not opposed by the parties concerned. BUMI’s total debt reaches Rp 138 trillion to 142 creditors that has been verified. In addition there are still 72 other creditors with a value of Rp 29 trillion in debt that has not been through the process of matching the Bills from the team.
Will the increase in BUMI’s stock prices last? Let’s wait and see. (*)
Add Comment