JAKARTA. Foreign investors still ride the trend of divesting shares of PT Alamatri Resources Indonesia Tbk (ADRO), a coal mining company owned by Boy Thohir previously known as Adaro Energy, reported net sell of 152.96 million shares within the last 7 days of transaction.

Last week, foreign buy volume of ADRO’s shares were recorded at 88.66 million. However, with foreign sell reaching 185.31 million shares, net sell of ADRO’s shares arrived at 96.63 million shares.

The selling-off of ADRO’s shares by foreign investors still continue until this week, as seen in net sell volume on Monday and Tuesday (25-26/11) totalling 7.03 million and 49.29 million shares, respectively.

According to IDNFinancials record, since the opening bell today (28/11), ADRO’s price has slipped 910 points or 24.80% down to IDR 2,760 per share as of 10.17 AM WIB. Within the past month, its price has decreased 920 points or 25%.

However, within the past 6 months, ADRO showed 70 points or 2.60% increase. Since the beginning of this year, it has soared 270 points or 10.84%.

It is worth noting that ADRO recently announced cash dividend distribution of USD 2.62 billion for the fiscal year 2023. The cash dividend will be allocated to shareholders listed by the recording date on November 29, 2024. The payment will then follow on December 6, 2024. (KR/ZH)