Dec 20, 2010

Vallar soars, Bakrie & Brothers up 4.62%

Vallar Plc surged 7.97% to 1,050 pounds on last Friday as investors bought the shares after it announced acquisitions on two coal assets in Indonesia at US$3 billion.
London Stock Exchange suspended Vallar stocks on November 15 when it announced coal assets takeover. The stocks stood at 972.5 pounds per share.
In line with Vallar's surge, PT Bakrie & Brothers Tbk (BNBR), 24% holder of Vallar shares, today soared 4.62% to IDR68 per share, enlarging its market capitalization.
Vallar Plc, lead by Indra Bakrie, acquired stake in PT Bumi Resources Tbk (BUMI) at IDR2,495 per share and PT Berau Coal Energy Tbk (BRAU) at IDR540 per share.

Disclosure: No position at the stock mentioned above. 

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