Day: August 12, 2022

Shares of Astrindo Nusantara Infrastruktur (BIPI), an investment firm focusing on integrated energy infrastructure, gained 4.32% to Rp192 on Thursday (August 11), and it gained 286% so far this year. Investors started to accumulating BIPI since March 22, 2022, while its financial performance actually weakened. At current price, BIPI is valued at Rp11.88 trillion (market capitalization).

The coal bonanza should be an opportunity for Bumi Resources (BUMI), the country’s largest coal miner, to end years of debt restructuring. BUMI just issued another 5.1 billion new shares to holder of the mandatory convertible bonds (MCBs) as part of the debt restructuring.