Two Affiliated Companies Of Conglomerate Anthony Salim Have Been Locked In Stock For A Month Because Their Shares Have Skyrocketed To Thousands Of Percent

Conglomerate Anthony Salim. (Photo: Dok. Nikkei)

JAKARTA - The Indonesia Stock Exchange (IDX) is still suspending the trading of two shares of issuers affiliated with Indofood boss, conglomerate Anthony Salim. The two issuers in question are PT DCI Indonesia Tbk (DCII) and PT Bank Ina Perdana Tbk (BINA).

BEI 'locked' DCII shares since last June 17. This means that it has been 30 working days or 22 working days for this stock to be traded by the stock exchange.

Significant price movements have made the stock exchange authorities emphasize that there is a need for cooling down steps to provide market participants with the opportunity to consider their investment decisions.

The question arises, why DCII shares have not been opened yet? IDX stated that currently it is still conducting an examination of the DCII share transaction.

This follows up on the stock suspension that was carried out on DCII since June 17. This suspension step is the first to be carried out after DCII shares rose significantly.

IDX's Director of Transaction Supervision and Compliance, Kristian Manullang explained, DCII shares experienced continuous price volatility.

DCII shares last traded at Rp59,000 per share on Wednesday 16 June. This data center company just went to the stock exchange on January 6, 2021 with an initial public offering (IPO) price of IDR 420 per share.

DCII shares, up to the last trade, have skyrocketed 14,000 percent from the IPO price. DCI Indonesia's Corporate Secretary, Gregorius Nicholas Suharsono said that the increase in the company's share price which reached Rp59,000 per share depended on market mechanisms and market perceptions of DCII's future.

Just for the record, as of June 30, 2021, DCII's shareholders are Otto Toto Sugiri with 29.90 percent ownership, Marina Budiman 22.51 percent, Han Arming Hanafia 14.11 percent.

All three are controllers, while Anthony Salim holds 11.12 percent ownership and 22.36 percent public shareholders.

Meanwhile, Bank Ina's shares have been suspended by the IDX since July 9 last week following a significant price spike in recent weeks.

This stock had accelerated in the green zone for 10 consecutive days, namely on June 11 to 24. In the past month, BINA's shares rose 193.15 percent, while year to date (ytd) has strengthened to 736.96 percent.

The recent increase in BINA's shares was driven by the latest news that the company is planning to conduct a rights issue. In the rights issue, BINA will release a maximum of 2 billion new shares with a nominal value of Rp. 100 per share.

With the approval of this rights issue, Anthony Salim, as the ultimate shareholder, has the opportunity to increase his share ownership in Bank Ina.

As of June 30, 2021, the Salim Group through its investment vehicle PT Indolife Pensiontama, which is the controlling shareholder of BINA, controls 22.47 percent of the banking company's shares.