META Wants Delisting, IDX Ensures Must Do Buyback First

Indonesian capital market (Photo: dock. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) has spoken out regarding the request for delisting by the management of the Salim Group toll road issuer or PT Nusantara Infrastructure (META).

Director of Corporate Assessment of the Indonesia Stock Exchange (IDX) I Gede Nyoman Yetna said it was the first step in protecting investors decided to temporarily suspend the company's securities trading in all markets. Suspension is effective starting from session I in the trading effect on Wednesday, November 8, 2023.

"Yesterday we had a process, there was a vouchary suspension submitted by the company. So what we are doing now is suspended first because there is a request to make a vocal delisting," Nyoman explained to the media crew, Wednesday, November 8.

Nyoman said the next step after temporarily stopping trading would ask for opinions from META management.

"We will process for the hearing first, what hearing is the background for the META delisting," said

Nyoman melanjutkan sebelum META menjadi perusahaan tertutup, harus melakukan pembelian kembali atau buyback saham sebagai perlindungan investor.

"Of course there is one rule that we need to make sure is to buy back. Buyback stocks are important, we assure you that the implementation will be carried out later, investor protection can be implemented," he said.

Thus, Nyoman conveyed the process carried out by the stock exchange to ensure that the parties appointed and ensured by the regulation can carry out their obligations and ensure that the shares circulating in the community can be repurchased at a reasonable price.

"For this reason, the process is carried out by the stock exchange to ensure that the appointed parties must be ensured to be able to carry out their obligations," he said.