Bakrie Telecom shares suspended amid debt concerns

4 Sep 2012

Reuters reports that the Indonesian Stock Exchange has suspended trading in shares and rupiah denominated bonds of domestic CDMA carrier Bakrie Telecom to ‘avoid market speculations’, ahead of the telco’s planned payment of bondholders today. In a statement published today, the exchange noted: ‘The stock exchange authority is still listing BTEL I-2007 bonds until [the] company is able to fulfil its duty on the bond payment.’ Bakrie was due to pay principal and interest payments on debt worth IDR650 billion (USD68.2 million) to its bondholders, but the Indonesian Central Securities Depository (KSEI) has confirmed that it has only received around IDR200 billion of that amount.

Indonesia, Bakrie Telecom (BTel)