Shares of small coal miner and contractor PT Petrindo Jaya Kreasi (CUAN) Tbk, controlled by Prajogo Pangestu, surged 6% to Rp2,361 this morning on the company’s plan to acquire smaller coal miner Singaraja Putra (SINI). At the last quoted price, CUAN is now worth nearly twice ‘market value’ of Bumi Resources (BUMI), the largest coal miner. To subscribe please click here
