WSKT Says Trading Suspension is Not Penalty
28 April 2015 16:00 WIB
TEMPO.CO, Jakarta – The Indonesia Stock Exchange has suspended the shares of state-owned construction company PT Waskita Karya (Persero) Tbk (WSKT) from being traded since yesterday.
IDX's director for corporate appraisal Natal Naibaho said the suspension was given following WSKT's planned extraordinary shareholders meeting in regards to the company's rights offering.
Natal said the suspension began on Monday's second trading session in both regular and cash markets, effective until further notice.
WSKT corporate secretary Antonius Yulianto said the suspension was not a penalty for failing to notify the IDX of its EGM and rights issue plans, which is scheduled for Wednesday. He ensured that the company had reported its rights offering plan to the IDX authority.
According to Anton, the suspension was given because the market became volatile after WSKT's price assumption was mentioned in the House of Representatives' hearing sometime ago.
The hearing mentioned a price of Rp1,000 per share, which was an assumption, not a fixed price.
It resulted in a market frenzy that prompted the IDC to suspend WSKT from being traded to prevent further volatility.
On yesterday's second session, WSKT dropped 3.64 percent to close at Rp1,720 per share.
Waskita Karya is holding a rights offering in second quarter this year, seeking to garner Rp5.3 trillion in proceeds. As many as Rp3.5 trillion is expected to be obtained from the government, and the remaining Rp1.8 trillion is expected to be pooled in from public investors.
The company will use the proceeds to fund the projects it will work on this year.
TRI ARTINING PUTRI