JSX suspends trading of Bumi Resources shares
Tuesday, July 29 2003 - 06:24 AM WIB
The Jakarta Stock Exchange (JSX) on Tuesday (today) suspended the trading of PT Bumi Resources? shares due to the company?s failure to give it complete explanation about its acquisition of East Kalimantan-based coal mining giant PT Kaltim Prima Coal (KPC).
?Bumi has not yet given us complete explanation about the terms and condition in their sales and purchase agreement,? JSX said in a statement, while adding that incomplete information could mislead the public.
JSX added that Bumi?s share trading could resume after further announcement from the bourse.
Bumi is in the process to acquire 100 percent shares in KPC for US$500 million from its shareholders namely world mining and energy giants Rio Tinto and BP Plc. (robert)