Indonesia: Bentoel Delisted
Image: Yazid Nasuha
Bentoel International Investama, BAT’s Indonesian unit, has officially been delisted from the Indonesia Stock Exchange (IDX), according to the Jakarta Globe. Bentoel has been listed on the IDX since 1990.
“IDX approves the removal of the company’s securities listing on the stock exchange, effective on Tuesday,” the IDX announced. “If the company wishes to re-list its shares on the IDX, the process can be carried out under applicable regulations.”
Bentoel Group has become the fourth-largest tobacco company in Indonesia, following Sampoerna, Gudang Garam and Djarum. The company produced local brands such as Bentoel Biru, Tali Jagat, Bintang Buana, Sejati, Neo Mild and Uno Mild.
In the first six months of 2023, Bentoel’s revenues were IDR4.31 trillion ($275.5 million), a 27.37 percent increase from the previous year. Net profit in the first semester of 2023 was IDR35.49 billion, up 121.83 percent from the previous year period.