JAKARTA, Nov 25 (Reuters) - The following Jakarta stock was on the move on Friday.
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ASTRA JUMPS 8.16 PERCENT ON BROKERAGE BUYING
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Indonesia's leading car maker PT Astra International jumped 200 rupiah to 2,650 ($0.30) in early Monday trading on significant buying by foreign and domestic brokerage firms.
"Some foreign brokerage firms had been buying Astra shares for the last few days, but today we have one local brokerage company coming in. It was Bahana Securities," said Rudy Pandjaitan, a dealer from E-Capital Securities.
The shares have risen by more than 50 percent over the last five trading days.
The company plans to issue a maximum three billion shares to help repay its hefty debts.
Astra indicated that it will issue the new shares with the price between 500 and 2,000 rupiah. The company said it will make the final decision on December 16.
However, Pandjaitan said he doubted the company would stay committed to that price range. Given the current situation he predicted the shares might be sold at a price higher than 2,000 rupiah. Astra is 32 percent owned by Singapore's Cycle & Carriage . ($1=8,980 rupiah)