Jakarta, CNBC Indonesia – Issuers engaged in the sales business real estate, PT Repower Asia Indonesia Tbk, has just entered the stock exchange surveillance radar after the last week the price increased drastically and moved unusually (Unusual Market Activity/AN).
The stock price movement was triggered by news of the entry of a big investor who is also a well-known lecturer, Ustadz Yusuf Mansur, who officially bought up 600 million REAL shares at a price of Rp 50/share or a total transaction of Rp 30 billion.
After being widely reported in various mass media, the Indonesia Stock Exchange (IDX) finally asked for clarification and asked about the truth of the news that succeeded in pumping the shares of this property developer issuer to fly and for a few days it had touched the upper auto rejection (ARA) limit of 35%.
Finally, the company was forthright open and said that they were not aware of the trading activities that took place in the secondary market.
“The company’s management is not aware of stock trading activities that occur in the secondary market, until now the company’s management regularly coordinates with related parties, including the Securities Administration Bureau, which is our basis for routine shareholder reporting. report,” said Rully Muliarto, Director of REAL, quoted by CNBC Indonesia from the IDX’s information disclosure page, (20/8).
Not stopping there, the stock exchange authority is also trying to explore the validity of the transaction by including the fact that the purchase transaction of 600 million shares of the company is equivalent to about 9% of the total paid-up capital of the company.
The stock exchange also asked for an explanation from the company regarding the fulfillment of Financial Services Authority Regulation No. 11/POJK.04/2017 concerning Ownership Report or Any Change in Share Ownership of a Public Company.
The three main points in the POJK are as follows:
- Reporting obligations for parties who own shares of a Public Company at least 5% (five percent) either directly or indirectly (beneficial owner).
- Reporting obligations by parties who own shares of a Public Company at least 5% (five percent) either directly or indirectly can be authorized in writing to other parties, with the consequence that the deadline for submitting reports is accelerated to 5 (five) days from the occurrence of ownership or change of ownership. on the shares of the Public Company.
- The obligation to report changes in ownership of shares of a public company applies to every change in ownership of at least 0.5% (zero point five percent) of the shares paid up in a public company.
Responding to questions posed by the IDX, REAL’s management said that they did not receive information on share ownership that exceeded the provisions.
“Until now, the company’s management has not received information on share ownership that exceeds the reporting requirements from the Securities Administration Bureau,” Muliarto added in his statement.
In today’s trading Friday (20/8) at 9.57 WIB, REAL shares fell 6.78% and touched the limit auto rejection (ARB), which is the reaction of investors after these shares were announced to be under the supervision of the IDX.
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