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Friday, November 26, 2010

Malindo's stock trading suspended

BI / exchange
12/11/2010
Irvin Avriano A.
Bisnis Indonesia

Malindo's stock trading suspended

JAKARTA: PT Malindo Feedmill Tbk's shares trading transaction suspended by the stock exchange authorities since its climbed 134.09% or IDR1,100 from IDR1,475 level on October 28th to IDR2,575 on November 11th.

"Indonesia Stock Exchange [IDX] need to do a temporary suspension of shares trading in order to cooling down [reduction of trade tensions] of Malindo's shares on November 12th," said Indonesian Stock Exchange Head of Stock Transaction Control Division Irvan Susandy.

He revealed it in the disclosure of information stock exchange authority today.

The company's shares has provided benefits to its owner of 2,00.05% since late last year from IDR900 level.

He also said the trading halt was made at the regular market and cash market, with the aim to provide sufficient time for investors and other market participants to consider the direction of its investment.

Until now, the management of the issuer has not submitted the corporate action plan which they want to execute early next year. In a previous disclosure to the stock exchange, they admit to doing a corporate action, but details are still yet to be disclosed because it was still formulated.

On November 5th, one of the directors of the company, Tang Ung Lee, sold 20,000 of his company's shares so his ownership reduced to 266,500 shares or make portions of its shares in the listed companies amounted to 0.08% in the company.

The last position of the companies' shares that coded MAIN pinned at IDR2,575, forming its market capitalization amounted to IDR872.93 bio.

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