IDX Plans to Unlist Suspended Issuers
Translator
Editor
Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) plans to delist suspended issuers.
The IDX's director for corporate valuation Samsul Hidayat said the bourse is reviewing the suspended issuers; deciding whether to allow them to return to stock trading or delist them entirely.
"If their suspension period is less than two years but they no longer have the desire (to trade), they can be delisted. Some companies have been suspended for more than two years now," he said at the IDX building in Jakarta Tuesday, August 30, 2016.
According to Samsul, there are now 28 public companies suspended from trading. The reasons for their suspensions include unusual market activities, as usually indicated by significant price gains or declines.
Other causes for suspension are errors in financial statements, differences between an issuer's expose and actual corporate actions, failure to settle debts and bonds, insider trading activities, and misappropriation IPO or rights issuance proceeds.
Samsul said the IDX is deliberating which companies will be delisted. Before a decision is made, the bourse will summon the companies first.
There are a number of issuers that will be forced to delist if they have been suspended for too long or if the management cannot be contacted.
"Their financial statements showed no income, their businesses are bad, the managers are gone, the offices cannot be searched, and no contact person. These factors can result in forced delisting," Samsul said.
DESTRIANITA K