Having Soared 500 Percent, Shares Of The Company Owned By Conglomerate Hary Tanoesoedibjo Are Suspended From Trading By The Stock Exchange

Conglomerate Hary Tanoesoedibjo. (Photo: Doc. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) has suspended trading of shares or temporarily suspended shares of the MNC Group owned by conglomerate Hary Tanoesoedbjo, PT MNC Kapital Tbk (BCAP) today, Friday 18 February.

In its announcement, the IDX stated that due to the significant cumulative price increase in PT MNC Kapital Indonesia Tbk (BCAP) shares, the IDX deems it necessary to temporarily suspend trading of its shares.

"The temporary suspension of PT MNC Kapital Indonesia Tbk (BCAP) shares in the Regular Market and Cash Market starting from the first trading session on February 18, 2022 until further Exchange announcements are made," explained the IDX.

The Exchange appeals to interested parties to always pay attention to the disclosure of information submitted by the Company. Yesterday, BCAP shares closed up 20.47 percent or 52 points to Rp306. Its market capitalization reaches Rp13.04 trillion and a PER valuation of 420.65 times.

In the last month, BCAP's shares rose 500 percent, and a week rose 42.99 percent. Previously, PT MNC Kapital Indonesia Tbk. (BCAP) will integrate its digital products into a single entity into the entity PT Motion Digital Technology (MDT), with the Motion Digital brand.

"We plan to unite our digital products, ranging from MotionBanking, MotionPay, Motion Trade, and Flash Mobile, into one single PT Motion Digital Technology. This integration and synergy will focus more on transaction-based applications," said President Director of MNC Kapital Indonesia. Wito Mailoa in an incidental public presentation, Tuesday 15 February.

Wito said that investor interest in investing in unlisted fintech companies is very high and the majority of investors have an exit plan through an initial public offering (IPO). These new investors have fresh funds to raise capital to support rapid digital development.