BRI's Acquisition, BYAN's Market Capitalization Now Second Largest in Indonesia

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Cindy Mutia Annur 28/12/2022 13:10 WIB

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At the end of 2022, PT Bayan Resources Tbk (BYAN) had the second-largest market capitalization on the Indonesia Stock Exchange.

Top 10 Companies by Market Capitalization in Indonesia (December 27, 2022)

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Top 10 Companies by Market Capitalization in Indonesia (December 27, 2022)

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Bayan Resources Tbk (BYAN) share prices soared throughout 2022. As a result, the market capitalization of this mining company owned by Low Tuck Kwong surged to become the second largest on the Indonesia Stock Exchange (IDX).

According to IDX data, BYAN's market capitalization reached Rp780 trillion on Tuesday, December 27, 2022, displacing PT Bank Rakyat Indonesia Tbk (BBRI) to third place.

Not only did BYAN's market capitalization increase, but the rise in its share price also boosted the wealth of Low Tuck Kwong, the company's founder and controlling shareholder with a 60.93% stake.

Referring to data from *The Real Time Billionaires List Forbes* on Wednesday, December 28, 2022, Low Tuck Kwong's net worth increased by US$5.5 billion, or approximately Rp86.42 trillion in a single day (using an exchange rate of Rp15,714/US$).

Overall, the conglomerate's wealth reached US$30.7 billion, making him the richest person in Indonesia, surpassing R. Budi Hartono (US$22.3 billion) and Michael Hartono (US$21.5 billion).

Here is a complete list of the 10 companies with the largest market capitalization on December 27, 2022:

1. BBCA: Rp1,050 trillion
2. BYAN: Rp780 trillion
3. BBRI: Rp731 trillion
4. BMRI: Rp460 trillion
5. TLKM: Rp377 trillion
6. ASII: Rp230 trillion
7. TPIA: Rp215 trillion
8. UNVR: Rp184 trillion
9. BBNI: Rp172 trillion
10. ADRO: Rp120 trillion

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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