Fly 174%, BEI Locks SULI Stocks

Jakarta, CNBC Indonesia The Indonesia Stock Exchange (IDX) has temporarily suspended (suspension) trading in shares of timber listed company PT SLJ Global Tbk (SULI) starting today, Friday (13/5/2022).

The suspension was carried out considering that SULI’s shares had increased significantly. Based on RTI data, SULI’s shares have surged since Wednesday (11/5/2022) and continued to rise on Thursday (12/5/2022).

On Wednesday, SULI’s shares jumped 11.83%, while on Thursday, SULI’s shares flew 31.73% to a level of Rp 137 per unit. Within a week, this stock has jumped 33% and since the beginning of the year (year-to-date/ytd) has skyrocketed 174%.

“In connection with the significant increase in the cumulative price of PT SLJ Global Tbk (SULI) Shares, in the context of cooling down, the PT Indonesia Stock Exchange deems it necessary to temporarily suspend trading of PT SLJ Global Tbk (SULI) Shares on trading on the 13th.
May 2022,” read the IDX announcement quoted on Friday (13/5/2022).

The trading of SULI Shares will be temporarily suspended 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 every investment decision making in PT SLJ Global Tbk (SULI) Shares.

“Stakeholders are expected to always pay attention to the disclosure of information submitted by the Company,” the IDX wrote.

[Gambas:Video CNBC]

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