The Fall of the Coal Giant Shares
Monday, 31 October 2022
The SOEs ministry encourages Bukit Asam to purchase PLN’s Palabuhanratu Coal-Fired Steam Power Plant following difficulties to find investors for its early retirement program, much to the chagrin of Bukit Asam’s shareholders.
A DEAL signed in Nusa Dua, Bali, on Tuesday, October 18, caused Bukit Asam (IDX: PTBA) shares to plummet. Throughout the week, PTBA remained unable to climb up from the red zone just yet. On Friday’s trade, October 28, the coal mining giant’s stock price closed at Rp3,790, down 10.8 percent from Monday’s position.
Stock market investors were still affected by the agreement between PTBA and state electricity company PLN on the s...
Subscribe to continue reading.
We craft news with stories.
For the benefits of subscribing to Digital Tempo, See More
To receive daily news by Email, Sign up for Tempo ID.