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STOCKS NEWS INDONESIA-Exploitasi Energi surges on stake sale

Wed Oct 24, 2012 11:01pm EDT

Shares in PT Exploitasi Energi Indonesia Tbk jumped as much as 10.45 percent on Thursday after the coal miner said it will sell at least $50 million worth of stake.

China's Huadian Power International Corporation Ltd will buy at least $50 million worth of stake in Exploitasi, CEO Henry Sitanggang said.

Exploitasi also planned to raise 2.7 trillion rupiah ($281 million) from a rights issue, with 5.4 billion new shares priced at 500 rupiah each.

The stock was up 8.96 percent at 365 rupiah with highest volume of 57.5 million shares traded, while the broader Jakarta Composite Index was up 0.09 percent.

0958 (0258 GMT) (Reporting by Andjarsari Paramaditha; Editing by Gopakumar Warrier)
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