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REFILE-Shares of Indonesian firm co-founded by Jakarta vice governor-elect surge
April 20, 2017 / 2:32 AM / 7 months ago

REFILE-Shares of Indonesian firm co-founded by Jakarta vice governor-elect surge

(Corrects title to governor, not mayor, paragraph 2)

JAKARTA, April 20 (Reuters) - Shares of Indonesian investment firm PT Saratoga Investama Sedaya Tbk surged 23.6 percent on Thursday, its biggest-ever percentage gain, after its co-founder was elected vice-governor of Jakarta.

Private equity tycoon Sandiaga Uno and his running mate, former education minister Anies Baswedan, who ran for governor of Jakarta, beat their rivals by big margins in Wednesday’s elections.

Uno had said that his team would continue most of the central government’s infrastructure projects in Jakarta. However, they opposed a giant reclamation project in the capital, Uno said.

Shares of Indonesian property developer PT Agung Podomoro Land Tbk, which had invested in the reclamation project, plunged as much as 8 percent.

The broader Jakarta stock exchange was 0.1 percent higher. (Reporting by Eveline Danubrata and Fransiska Nangoy; Editing by Paul Tait)

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