lobal index provider FTSE Russell plans to remove four additional Indonesian stocks from the FTSE Global Equity Index Series (GEIS) effective this month, adding fresh concerns over foreign outflows from local equities.
According to the latest directive from the index provider, a subsidiary of the London Stock Exchange Group, PT GoTo Gojek Tokopedia and PT Trimegah Bangun Persada will be removed from the mid-cap index.
Homegrown technology firm GoTo, listed under the ticker code GOTO on the Indonesia Stock Exchange (IDX), is one of the country’s largest and has businesses spanning online transportation and delivery services, e-commerce and digital financial services.
Trimegah Bangun Persada (NCKL) operates as Harita Nickel, managing nickel mining and downstream processing facilities on Obi Island in South Halmahera, North Maluku.
Read also: FTSE Russell removes four Indonesian stocks from global indexes
In addition, coal miner PT BUMA Internasional Grup (DOID) and PT Nusantara Sejahtera Raya (CNMA), operator of the country’s largest movie theater chain Cinema XXI, face deletion from the micro-cap index.
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The index changes are scheduled to be implemented after the market closes on June 19 and take effect on June 22.