Bayer to quit SSX

Bayer to quit SSX

JAKARTA (JP): PT Bayer Indonesia, a publicly listed
pharmaceutical producer, plans to remove its shares from the
Surabaya Stock Exchange (SSX) as part of its cost cutting
program.

The company said on Wednesday that the plan to delist the
shares was also made due to the lack of investors in the Surabaya
stock market.

Like other shares on the Surabaya stock market, Bayer stocks
are rarely traded. According to the company, during the period
between 1998 and 1999, its shares on the Surabaya exchange only
recorded two transactions.

Most of the companies traded on the Jakarta Stock Exchange
(JSX) are cross listed on the Surabaya market to give direct
access to local investors. But most of the local investors still
prefer trading through the Jakarta exchange. (hen)