Rajawali`s Eatertainment shares almost quadruple after Reuters IPO scoop

Shares in small-cap Indonesian investment firm Rajawali Group almost quadrupled in the week after Reuters exclusively reported on June 20 that the group planned to backdoor list its $1 billion plantation assets via its majority-owned restaurant firm Eatertainment this year. Investors pushed up the stock by the maximum daily limit for five days in a row. Bloomberg and Dow Jones could not match the story, and Bloomberg was forced to cite the Reuters scoop as the reason for the firm’s rally in its June 22 Indonesian stocks report.