Nusantara Hijau Investama is trading 9.84% up at IDR 424 amid unverified reports that Jhonlin Group could acquire a controlling stake in Bayan Resources, following another sharp advance in its multi-session rally.
- Bayan Resources said it is unaware of any such acquisition plan, leaving the catalyst speculative rather than confirmed.
- The Indonesia Stock Exchange flagged unusual market activity in the shares.
- The stock rose from IDR 270 on August 12 to IDR 424 on August 25.