European and American stocks moved flat with The Dow fell 11.8 points to close at 22,284.3 yesterday. Regional markets traded flat this morning easing worries triggered by North Korean action. IHSG dropped close to strong diagonal support line.
Break below previous lows at 5.845 potentially trigger a further correction.
IPO - PT Kapuas Prima Coal
PT Kapuas Prima Coal plans to hold an IPO by selling a maximum of 550 million shares (20.79% of the issued and fully paid-up capital) with offering price around Rp 120-Rp 170 per share so that the company has the potential to reach Rp 66 billion to Rp 93.5 billion. The company also operates a mandatory convertible bond (MCB) worth Rp 70 billion or a maximum of 500 million shares. The IPO proceeds will be used for capital expenditure and working capital for exploration and infrastructure development. PT Erdhika Elit Sekuritas is appointed as the underwriter of the emission. Listings on the Indonesia Stock Exchange are estimated on October 16, 2017. The Company was established in 2005 with business activities in mining and trading and has a mining area of 5.569 Ha.
AISA - Plan for divestment of rice
PT Tiga Pilar Sejahtera Food (AISA) is planning to divest the rice business, as revealed in the EGMS material to be held on November 2, 2017. Currently AISA runs a rice business through several subsidiaries such as PT Swasembada Tani Selebes, PT Dunia Pangan, PT Indo Superior Rice, PT Jatisari Srirejeki, PT Sukses Abadi Karya Inti, and PT Tani Ungul Usaha.
BBRI - Stock split plan
PT Bank Rakyat Indonesia (BBRI) plans to conduct a stock split with a ratio of 1: 5 to increase stock liquidity. The plan is awaiting approval of the EGMS on October 18, 2017. Meanwhile, BBRI management indicates that the venture capital acquisition plan will be completed in October 2017. The venture capital company to be acquired is expected to support the bank's activities in technology development. In addition to targeting venture capital firms BBRI is also targeting securities firms. BBRI allocated funds around Rp 500 Billion to Rp 700 Billion to acquire the two companies.
JPFA - Realization of stock buyback
Information disclosure of PT Japfa Comfeed Indonesia (JPFA) announced the realization of share buyback (buyback) yesterday, September 26, 2017, amounting to 107,800 shares at Rp 1,165 per share.