Shares of Indika Energy (INDY) dropped 4.44% Friday (May 4) following reports about placement of Mitrabahtera Segara Sejati (MBSS) at discount. MBSS, majority owned by Indika, crashed almost 12%. Petrosea, another subsidiary of Indika, also down 1.6%. We’re in a situation that Petrosea is valued substantially better than both Indika and MBSS.
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