Suspension Opened, Conglomerate Peter Sondakh's Golden Eagle Energy Shares Can Be Traded Again Today

Illustration. (Photo: Doc. Antara)

JAKARTA - Investors in shares of PT Golden Eagle Energy Tbk (SMMT) can breathe a sigh of relief. The reason is, the suspension of shares owned by Rajawali Group boss Peter Sondakh has been reopened.

This certainty was stated in a letter signed by the Head of the Indonesia Stock Exchange (IDX) Transaction Supervision Division (IDX) Lidia M Panjaitan and the Head of the IDX's Trading Operational and Regulatory Division, Irvan Susandy, Friday, March 11.

"The suspension of trading in SMMT shares on the regular market and cash market is reopening," the letter read.

With the lifting of the suspension, SMMT shares can be traded again starting today's first trading session (Monday, March 14).

Previously, the IDX imposed a suspension on SMMT shares on Friday, March 11.

IDX stated that due to the significant increase in the cumulative price of 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 in order to provide sufficient time for market participants to consider carefully.

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.