Stock Price Soared 118 Percent, The Company Owned By Conglomerate Peter Sondakh Is Suspended By The Stock Exchange

Illustration. (Photo: Doc. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) suspended the shares of the company owned by Rajawali Group boss, Peter Sondakh, PT Golden Eagle Energy Tbk (SMMT) today, March 11, 2022.

IDX stated that due to the significant cumulative price increase in PT Golden Eagle Energy Tbk (SMMT) shares, the operator needs to suspend or lock up the shares.

"In the context of cooling down, the Indonesia Stock Exchange considers it necessary to temporarily suspend the trading of PT Golden Eagle Energy Tbk (SMMT) shares on trading on March 11, 2022", the IDX said in a statement.

The temporary suspension of trading in SMMT Shares, continued the Exchange, will be carried out in the Regular Market and the Cash Market. The suspension is carried out to provide sufficient time for market participants to consider carefully.

That way, every investment decision-making is based on the information contained in PT Golden Eagle Energy Tbk (SMMT). IDX reminds interested parties to always pay attention to the disclosure of information submitted by the Company.

For information, SMMT shares have strengthened as much as 118.75 percent in the past month. Meanwhile, throughout the year, the company's shares rose to 281.19 percent.