Suspension of Bumi and EMP's stock trading continues
Saturday, February 4 2006 - 02:19 AM WIB
The Jakarta Stock Exchange (JSX) will continue the suspension of the stock trading of PT Bumi Resources and PT Energi Mega Persada (EMP), until the market operator receives a clarification from EMP about their merger plan, Kompas reported on Saturday.
"We want a clarification only from EMP because the company has issued the information about the merger plan," Yose Rizal, the head of the listing division at the JSX.
According to him, the merger plan is contained in the prospectus published by EMP in December 22, 2005.
The merger of Bumi Resources, the largest coal producer in Indonesia, and EMP, a growing oil and gas company, would create the largest publicly listed energy company in the country.
Both companies are controlled by the family of Aburizal Bakrie, currently the Coordinating Minister for Social Welfares. (*)