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Indonesia Hot Stocks-Bumi shares drop on watchdog decision

Tue Jun 16, 2009 10:38pm EDT

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JAKARTA, June 17 (Reuters) - Shares in Indonesian coal miner PT Bumi Resources Tbk (BUMI.JK) fell as much as 3.6 percent to 2,000 rupiah a share when the market opened on Wednesday following a decision by market regulator Bapepam.

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The watchdog announced that one of the three coal mining firms was acquired by Bumi at an unfair price.

The shares opened down 1.2 percent, against a 0.32 percent initial fall in the broader market .JKSE.

For story please click on [ID:nJAK446434] (Reporting by Tyagita Silka; Editing by Sara Webb)

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