JAKARTA - The Indonesia Stock Exchange (IDX) has temporarily suspended (suspension) the shares of PT MNC Kapital Indonesia Tbk (BCAP). The reason is that the cumulative price of shares belonging to the conglomerate Hary Tanoesodibjo has increased significantly.
"In order to cool down, IDX deems it necessary to temporarily suspend trading of BCAP shares starting February 10," wrote a signed letter from the Head of the IDX Transaction Supervision Division, Lidia M Panjaitan and the Head of IDX's Trading Operational and Regulatory Division, Irvan Susandy.
The temporary suspension of trading of BCAP shares was carried out in the regular market and cash market. The aim is to provide sufficient time for market participants to consider carefully based on the information available in each of their investment decisions in BCAP shares.
IDX added that interested parties are expected to always pay attention to the disclosure of information submitted by the company.
The increase in BCAP's share price is indeed quite large. From January 20 to February 9, BCAP's share price rose by 347.05 percent from Rp51 to Rp228.
Even on February 8 trading, BCAP's shares touched a price of Rp248.
On the same occasion for the same reason, the IDX also temporarily suspended trading of three other stocks. The shares include PT Bintang Samudera Mandiri Lines Tbk (BSML), PT AirAsia Indonesia Tbk (CMPP), and PT Hotel Sahid Jaya International Tbk (SHID).
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