Jakarta, CNBC Indonesia – Composite Stock Price Index (IHSG) had to be corrected badly in trading this week. JCI must be willing to fall in the red zone with a decline 4,26% at level 5.016,71 impacts of the reintroduction of PSBB Total by DKI Jakarta Governor Anies Baswedan.
Even though the JCI was battered, it turned out that there were also many stocks capable of flying hundreds of percent. Consider the following table.
There were 4 out of 5 stocks that led the increase in alias Top Gainers is a stock that incidentally just took the floor on the alias stock exchange Initial Public Offering (IPO).
The highest increase was recorded by PT SOHO Global Health Tbk (SOHO), whose share price managed to jump 142.31% over the past week. The owner of the Imboost brand himself just held an IPO on September 8, 2020 with an offering price of Rp. 1,820 / unit and managed to raise funds of Rp. 208 billion.
Note, issuers that make initial public offerings on the IDX are prone to share prices cornering where the majority shareholder in circulation can move the shares easily in a certain direction in this case it rises to touch the Upper Auto Reject (ARA) level because The shares are not evenly distributed to the public and are owned by a handful of market players, aka stock frying action.
In fact, the IDX has tried to improve this by creating methods E-Bookbuilding which is planned to be implemented in January 2021, so that retail investors do not need to queue directly to order IPO shares at the Securities Administration Bureau (BAE) anymore, which is expected to increase the number of IPO shares subscribers.
But the minimum amount of the centralized allotment or pooling unchanged, namely 2.5-15% in accordance with the target size of the IPO fund. Note, usually retail investors can only order IPO shares through rationing pooling only while big investors who usually compare the issuer can get their shares through a fixed allotment or fixed allotment and control up to 97.5% of the outstanding shares.
Meanwhile, the non-IPO share price that managed to soar was only PT Pollux Properti Indonesia Tbk (POLL) which managed to fly 81.69% over the past week. It is known that the issuer in collaboration with BJ Habibie has just completed the construction of a superblock in Batam.
RESEARCH TEAM CNBC INDONESIA
(trp/roy)
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