Shares of Indo Kordsa (BRAM), producer of raw materials for tire manufacturing, gained 24.7% to Rp5,225, trading with a market capitalization of Rp2.35 trillion, following news that the controlling shareholder and the founder of Indo Kordsa, Robby Sumampow, passed away in Singapore. Robby now holds 23.92% shares of BRAM, formerly Branta Mulia. Year to date, however, BRAM has fallen 40%. Other shareholders of BRAM are Kordsa Teknik Tekstil AS (61.59%), PT Risjadson Suryatama (5.61%), and public investors (8.9%).
To subscribe please click here