TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) has suspended trading activities on Inter Delta (INTD) shares on the regular market and the cash market starting today, Wednesday, November 13. The IDX made the decision based on INTD's unreasonable price gain, the stock gaining significantly and cumulatively.
INTD shares will remain suspended pending further announcement.
According to Bloomberg's data, INTD began to rally on October 31, rising 4.34 percent to Rp240 per share.
The upward trend continued from November 1 to 12 with a cumulative gain of 220 bps, or 91.66 percent, to Rp460 per share.
"The IDX urges interested parties to keep paying attention to issuers' information disclosure," IDX's head of transaction supervision Lidia M Panjaitan said in the suspension announcement.
The IDX had suspended INTD on November 7, for a day before trading resumed for the stock on November 8.
Inter Delta is engaged in general trading for film equipment, micro films, chemicals for photos and films, and electronic equipment.
In Q3/2019, the company posted Rp64.45 billion net sales, a 7.6-percent (yoy) increase. Net profit attributable to owners of the parent entity is Rp1.19 billion, down 68.52 percent annually.