Stocks Bumi Resource (BUMI) Landslide After Spread Last Week, Check out the Recommendations
Reporter: AKHMAD SURYAHADI | Editor: ANNA SUCI PERWITASARI
KONTAN.CO.ID – JAKARTA. Shares of PT Bumi Resources Tbk (BUMI) plummeted in trading Monday (10/10). In todays trading, BUMI . shares weakened 5.38% to the level of Rp. 176. In fact, BUMIs shares had jumped 14.11% on Friday (7/10) trading.
This happened after BUMI announced the entry of the Salim group into BUMIs body through Capital Increase Without Pre-emptive Rights (PMTHMETD) aka private placement.
MNC Sekuritas analyst Herditya Wicaksana said the correction was sharp BUMIs stock today is expected to be due to profit taking aka profit taking, after 7 days the price increases.
Technically, MNC Sekuritas observes that there are potential corrections in the BUMI stock to test the area of Rp 155-Rp 170. BUMI stock movement in the trade this morning it was already hit from the fibo retrace 61.8.
JUMBO PLACEMENT
For market participants, you can trade buy first by observing in terms of volume and future prices and take advantage of the momentum first, explained Herditya to Kontan.co.id, Monday (10/10).
Just so you know, BUMI is one of the shares of listed coal mining companies that perform well. Within a week, the shares of this Bakrie Group entity rose 23.94%. Since the beginning of the year aka year-to-date, BUMIs shares soared 162.69%
BUMI plans to carry out private placements a maximum of 200 billion Series C common shares at an exercise price of Rp120 per share.
Thus, the overall value of this corporate action is a maximum of Rp. 24 trillion. This amount is equivalent to a maximum of US$ 1.6 billion at an exchange rate of Rp. 15,000 per US dollar agreed upon between BUMI and the investor.
Referring to information disclosure, the Salim Group or Anthoni Salim will take part in this private placement. Salim Group will entered through two shell companies, namely Mach Energy Limited (MEL) and Treasure Global Investment (TGIL).
MEL will take 85% of the 200 billion new shares issued BUMI at a price of Rp 120 per share through a private placement. Currently TGIL will absorb the remaining 15%.
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