🔴 Bukit Uluwatu Villa is trading 13.5% down today after rights-issue ex-rights adjustment

Bukit Uluwatu Villa is trading at IDR 346.00, down 13.5%, amid continued weakness following its rights-issue ex-rights adjustment.

• The exchange set a theoretical reference price of IDR 520 from the IDR 590 October 13 cum-rights close.
• Shares retreated from IDR 520 on October 14 to IDR 400 on October 16.
• The offer: 6.15 billion new shares at IDR 250 each; trading and exercise run October 19–30. The adjustment alone is not evidence of an equivalent shareholder-value loss.