Indonesian iPhone Retailer Surges as It Nears Partnership With Juul
- Deal to open door for Erajaya to retail e-cigarettes
- Impact on combustible cigarette market seen limited: Citi
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Shares of PT Erajaya Swasembada, an Indonesian distributor of Apple Inc.’s iPhones and Samsung Electronics Co.’s smartphones, surged the most in more than a year after the company said it was close to a tie-up with electronic cigarette manufacturer Juul Labs Inc.
Erajaya will soon announce details of the partnership with Juul, Budiarto Halim, president director, said by phone on Monday. “I’m currently bound by a non-disclosure agreement,” he said.