IDX Considers ABBA Share Surge Unusual Market Activity

Translator

Ricky Mohammad Nugraha

Editor

Markus Wisnu Murti

Jumat, 12 Maret 2021 21:59 WIB

Illustration of the Jakarta Composite Index (JCI). TEMPO/Toni Hartawan

TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) is reportedly keeping an eye on PT Mahaka Media Tbk. (ABBA) stocks due to activities it classifies as unusual market activity (UMA).

However, it is important to note that being classified as UMA does not mean there is an actual violation against the market trade laws, and that it is merely a system to avert unwanted trades.

Citing Bisnis.com, the last development or activity from ABBA was on March 1, 2021 as the firm reported through the IDX information disclosure on business combinations, separations, mergers, or joint ventures.

It announced on the IDX website that the unusual market activity of the ABBA shares is being looked into in terms of the development of its transaction patterns. It also called on investors to pay attention to ABBA’s response to the requests for independent confirmation.

PT Mahaka Media Tbk is a corporation with majority shares held by PT Beyond Media that is owned by State-owned Enterprises Minister Erick Thohir.

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