JAKARTA. Foreign investors still continue the trend of selling off shares of PT Avia Avian Tbk (AVIA), the paint manufacturer owned by Hermanto Tanoko, after a week of transaction in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, foreign investors registered net sell of AVIA’s shares of IDR 115.78 million in worth, peaking on November 19, 2024, with total net sell volume of 45.17 million shares.

Last Monday (25/11), foreign investors of AVIA were still on an offloading trend, recording net sell of 137.31 million. This trend continued to Tuesday (26/11), with net sell volume reaching 36.02 million.

In terms of fundamental, AVIA still shows positive growth, as indicated by its revenue that reached IDR 1.78 trillion as of Q3 2024, rising 7.76% year-on-year (yoy). Meanwhile, its net profit reportedly grew 5.54% yoy to IDR 352.18 billion.

However, in terms of stock transaction, AVIA’s price showed 62 points or 12.86% decrease to IDR 420 per share until last Tuesday’s (28/11) closing bell. Since the beginning of this year, its price has actually slipped 80 points or 16%. (KR/ZH)