IDX Denies Suspending Bukalapak Shares Under 25% Auto Rejection
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9 August 2021 18:22 WIB
TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) on Monday asserted it had not suspended the shares of PT Bukalapak.com Tbk (BUKA) although it reached the exchange’s 25 percent upper auto rejection regulation or ARA.
The IDX trading surveillance and compliance director, Kristian Sihar Manullang, on Monday confirmed that BUKA shares had not been suspended but rather the auto rejection was subjected to orders from investors that may potentially exceed the 25 percent auto rejection.
“The IDX has not suspended BUKA’s auto rejection but enacted auto rejection to investor’s orders that when a match may exceed the auto rejection,” said the director on Monday, August 9, Bisnis.com reported.
Bukalapak shares were offered at Rp1,060 for each share and immediately soared by 25 percent to Rp1,325 per share, which was the highest level it achieved before the first trading session closed.
BUKA shares were transacted 555 times with 88.23 million shares in circulation with a total transaction reaching Rp117 billion. Bukalapak officially registered at the IDX on Friday last week as the 28th issuer collecting an IPO of Rp21.9 trillion, marking the largest IPO recorded by the IDX.
Read: Minister Hopes Bukalapak's IPO Move Followed by Tech Firms
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