Going fast, these two stocks were stopped by IDX

ILLUSTRATION. The IDX revealed that there had been a significant increase in the cumulative price of the two shares.

Reporter: Kenia Intan | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. PT Bursa Efek Indonesia (IDX) temporarily suspended (suspended) trading of two shares, PT Cipta Selera Murni Tbk (CSMI) and PT Bank Ganesha Tbk (BGTG). The suspension is carried out in the regular market and the cash market starting from the first trading session today, Wednesday (3/3).

In the IDX announcement Tuesday (2/3), IDX revealed that there had been a significant increase in the cumulative price of the two shares. Thus, the IDX felt the need to temporarily suspend trading.

Looking at RTI Business data, the price movements of both of them have indeed gone up significantly in recent times. Until the close of trading on Tuesday (2/3), CSMI’s shares were at Rp 1,730 per share, up 28.63% in the week and 57.27% over the past month. Meanwhile, BGTG shares perched at Rp 264 per share. The price has strengthened 103.08% during the week and 288.24% in the last month.

“The Exchange calls on interested parties to always pay attention to the disclosure of information submitted by the company,” said Head of the IDX Transaction Supervision Division, Lidia M Panjaitan and Head of the IDX Trade Regulation & Operations Division Irvan Susandy in an announcement on Wednesday (3/3).

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For your information, both of them have been suspended before. CSMI stock trading was temporarily suspended on February 10, 2021, then reopened the following day, February 11, 2021. Meanwhile, trading in BGTG shares was temporarily suspended on February 26, 2021. As for March 2, 2021, BGTG’s suspension was just opened.

The stock exchange has announced unsual market activity (UMA) for CSMI shares on 28 January 2021. Similarly with BGTG, its shares were several times announced to enter UMA on 26 April 2017, 12 February 2018, and 25 February 2021.

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