Indonesian coal miner Bayan shareholders increase Jhonlin share sale
JAKARTA - Indonesian coal miner Bayan Resources said late on Tuesday its biggest shareholders Low Tuck Kwong and Elaine Low increased the size of a share sale to Jhonlin Baratama to 10.08-billion shares from 10-billion.
According to LSEG data, 10.08-billion shares changed hands early on Wednesday at 2 588 rupiah per share, valuing the transaction at 26.1-trillion rupiah ($1.46-billion).
Bayan shares fell 6.3% by 06:10 GMT to 12 600 rupiah.
Jhonlin Baratama is controlled by Indonesian tycoon Andi Syamsuddin Arsyad, better known as Haji Isam.
Bayan last month lifted a force majeure declaration on coal supply deals after the government granted it additional production quota for 2026.
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