IDX Suspends Coal Issuer SGER from Trading after Stock Price Surge
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22 September 2023 20:36 WIB
TEMPO.CO, Jakarta - The Indonesian Stock Exchange or BEI has suspended the shares of coal issuer PT Sumber Global Energy Tbk. (IDX: SGER) due to a significant cumulative price increase. The IDX said that the suspension of SGER shares was carried out in the regular market and cash market.
"With regards to the significant increase in the cumulative price of SGER shares, in the context of cooling down the Indonesia Stock Exchange deems it necessary to temporarily suspend trading in shares of PT. Sumber Global Energy Tbk on trading 22 September 2023," the IDX said in its official statement quoted from the securities disclosure on Friday, September 22.
As reported by RTI Business, SGER closed yesterday's trading in the green zone at Rp2,300 per share in. Over the week, SGER stock price has gained 24.32 percent. In the past 15 days, the price increase rate was 66.67 percent and in the last month the stock price has risen by 350.98 percent.
IDX then suspended the stock from trading in order to give market players sufficient time to carefully consider what they want to do with their investments in SGER based on existing information.
"Interested parties are expected to always pay attention to the disclosure of information submitted by the Company," the exchange said.
AMELIA RAHIMA SARI
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