JAKARTA. The stock price of PT Alamtri Resources Indonesia Tbk (ADRO) saw significant decline of up to 44.53% within the past week, further driving the offloading trend from foreign investors.

According to IDNFinancials data, ADRO was closed at IDR 2,080 per share at last Friday’s (29/11) closing bell. Another week prior, ADRO still managed to reach IDR 3,750 per share.

Indonesia Stock Exchange (IDX) listed ADRO under Top Loser Weekly last week along with 10 other issuers with drastic plunge in their stock prices.

In addition, shares transaction of ADRO was also listed as the third highest transaction value, reaching IDR 4.22 trillion in just one week.

Last Friday, foreign investors even registered foreign sell of 225.31 million shares, contrasting widely with foreign buy of only 74.68 million. Thus, ADRO reported net foreign sell of up to 150.63 million shares in one day, bringing the accumulated net foreign sell to 205.94 million within a week.

In a report, this significant drop of ADRO has been predicted by PT Stockbit Sekuritas Digital, considering the ex-date dividend of ADRO and public offering by shareholders (lit. Penawaran Umum oleh Pemegang Saham/PUPS). (KR/ZH)