Adaro Energy Stock Rises Amidst Discussions of Selling Subsidiary

PT Adaro Energy Indonesia Tbk (ADRO) plans to sell all of its shares in PT Adaro Andalan Indonesia (AAI).

According to *Bisnis Indonesia*, AAI is a subsidiary of ADRO that holds shares in several thermal coal mining companies, including PT Adaro Indonesia, PT Paramitha Cipta Sarana, PT Semesta Centramas, PT Laskar Semesta Alam, and PT Mustika Indah Permai.

The coal produced by these companies is a medium-calorie thermal coal with low pollutant content. AAI, under ADRO's control, also holds shares in two thermal coal mining companies currently under development: PT Pari Coal and PT Ratah Coal.

AAI's business branches are quite developed. The company has logistics services and supporting businesses through its subsidiaries operating in land, water, investment, and electricity businesses.

"The company plans to separate the mining pillar business and several supporting businesses under AAI from the Adaro Minerals and Adaro Green business pillars to maintain solid synergy from the integration of businesses included in industrial sectors with closer interrelationships," wrote Adaro management in a disclosure to the Indonesia Stock Exchange (BEI), as quoted by *Bisnis Indonesia* on Thursday (September 12, 2024).

This plan seems to have given a positive sentiment to the movement of ADRO shares.

According to data from Investing.com, the price of ADRO shares closed at Rp3,850 per share on Thursday (September 12, 2024).

This figure strengthened by 330 points or 9.38% from the closing trade on Wednesday (September 11, 2024), which was Rp3,520 per share.

ADRO shares have been trending upwards this week. However, compared to the previous week (September 3-6, 2024), ADRO experienced more frequent price declines, as seen in the graph.

The price last week was in the range of Rp3,400-Rp3,600 per share.

Today's share price is also the highest since the beginning of the 2024 calendar year (year-to-date). On January 2, 2024, the share price was only Rp2,490 per share.

The lowest price recorded was Rp2,340 per share on January 24, 2024.

(Also read: [Adaro's Profit Down 10.87% as of June 2024 Due to Falling Coal Prices](https://databoks.katadata.co.id/datapublish/2024/08/29/laba-adaro-minus-1087-per-juni-2024-imbas-harga-batu-bara-anjlok))