TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) will delist Inovisi Infracom`s (INVS) shares on October 23 this year. With the delisting, INVS will no longer be tradable at the IDX.
"A forced delisting is a penalty given to issuers for not meeting the requirements of a listed company," IDX director for corporate assessment Samsul Hidayat said here on Thursday, September 28.
He added that the bourse is reviewing other issuers that are also considered unable to fulfill their obligations as public companies listed with the IDX. He did not elaborate further.
IDX regulations stipulate that it may delist an issuer's shares on the event that the company experiences conditions that jeopardize their business sustainability, their status as a public company, and if the company is unable to show any indication of adequate financial recovery.
Some issuers whose shares have been delisted by the IDX are Bakrie Telecom, Sekawan Intipratama, Borneo Lumbung Energi and Metal, Berau Coal Energy, Permata Prima Sakti, SKYBEE, and Garda Tujuh Buana.
ANTARA | ANISA LUCIANA