Chinese firms acquire stakes in Indonesia-listed companies, causing share prices to soar

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A number of Chinese companies have recently launched takeovers of listed companies in Indonesia, driving up the prices of related stocks sharply.PT Tourindo Guide Indonesia (PGJO) was acquired 61.96% shares by China's Zhengyu Global Trading, shares rose 957.89% to 1105 rupiah/share during the year, as the enterprise's business shifted from travel tech platform to commodity trading.

PT Bangun Karya Perkasa Jaya (KRYA) acquired 51% shares of PT Green City Traffic, an electric vehicle company, shares soared 326.92% to 222 rupiahs/share, and plans to raise 200-300 billion rupiahs to expand its electric vehicle business through an additional issue; PT Koka Indonesia (KOKA) was proposed to acquire 63.5% shares by Ningbo Lixing Enterprise Management Co. and its share price touched 34.31% stop limit in a single day.

Experts analyze China's "Belt and Road" strategy to promote investment in Southeast Asia.Low valuations of listed companies in Indonesia attract foreign investment, and acquirers generally plan for business integration and efficiency improvements.The electric vehicle sector is currently a hot spot for investment (KRYA aims to sell 1 million units in 5 years), and traditional companies are transforming their businesses through acquisitions.

# Chinese Capital Express