JAKARTA – The stock price of PT Indika Energy Tbk (INDY) was seen increasing two days after this company concluded the sale of subsidiaries’ shares yesterday (26/2).

Until the closing bell today (28/2), the company saw IDR 20 increase to IDR 1,325 per share in the stock price, growing from yesterday’s (27/2) closing price of IDR 1,305 per share. The shares were being traded at the highest price of IDR 1,335 per share, while the lowest hit IDR 1,300 per share. The transaction volume reached 9.64 million shares, all recorded within 1,680 transactions worth IDR 12.74 billion.

Yesterday (27/2), the transaction volume was stuck at 7.29 million, while the frequency reached 1,336 transactions, totalling IDR 9.47 billion. The peak at yesterday’s trading session was IDR 1,305, and the lowest was IDR 1,290 per share.

Earlier this week (26/2), PT Indika Indonesia Resources (IIR) and Indika Capital Investment Pte Ltd (ICI) completed the divestment of their portions in PT Multi Tambangjaya Utama (MUTU), amounting to 2.26 billion shares, to PT Petrindo Jaya Kreasi Tbk (CUAN) for USD 203 million.

Post-transaction, MUTU will no longer be listed as INDY’s subsidiary, and the financial report will not be consolidated into INDY’s. (LK/ZH)