Latinusa Management Opens Voice Regarding Stock Price Increase: Only Market Mechanism

Management of PT Latinusa Tbk (NIKL). (Photo: Special)

JAKARTA - The management of PT Pelat Timah Nusantara Tbk, abbreviated as PT Latinusa Tbk. (NIKL) confirmed that it does not know the cause of the volatility in NIKL shares in the market.

NIKL President Director Jetrinaldi revealed that the company and the Board of Directors and the Board of Commissioners did not know, did not accept, heard, or read information circulating as rumors about the company or against the Board of Directors and Board of Commissioners.

"Regarding the volatility and activity of the company's stock price movement, it is a mechanism from the market or there is demand and supply, and that is beyond the company's control. As for all material information, the company has submitted to shareholders or the public through information disclosure," Jetrinaldi said at the Public Expose Incidentil event, which was held on Thursday, March 21.

For information, currently NIKL shares are still suspended by PT Bursa Efek Indonesia (IDX). The termination of the NIKL shares was due to a significant increase.

According to the chronology, on March 14, 2024, the Exchange through the UMA Announcement had seen an increase in the price of NIKL shares to R430 per share. The share price is increasing on March 15, 2024, to the level of Rp520.

Then on March 18, 2024, the Exchange suspended the company; and on March 19, 2024, the Exchange opened the suspension and the price closed at Rp625. Because it was still rising, on March 20, 2024, the Exchange again suspended the company.

This means that in the past week the price of NIKL shares rose to 56.25 percent. Meanwhile, within one month, the price of NIKL shares jumped to 134.96 percent or was at the level of Rp625 per share.