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Thursday, March 3, 2011

Wicaksana Overseas stock suspension revoke

Irvin Avriano A.

Wicaksana Overseas stock suspension revoke

JAKARTA: Suspension on PT Wicaksana Overseas International Tbk shares trading have been revoke by Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia/BEI) yesterday. The revocation have been done by the bourse authority in the reguler and cash market.

The action also makes the suspension only happen to the shares that coded WICO on a day trading, starting on Tuesday, said IDX Acting Transaction Surveillance Division Head IRvan Susandy in the bourse authority announcement.

Nonetheless, the revocation let the stock moves negatively yesterday IDR7 or 5.93% to IDR111 level. The share price formed its market capitalization to IDR140.85 billion.

The company's shares trading halted by IDX due to Wicaksono Overseas stock that moves sharply earlier this year after moving almost stagnant at the level of IDR50 over the past year. The shares also not move from the similar level since 2008.

However, the stock began to move on January 31th, and periodically up to the level of IDR84 on February 14th trading day. Stocks continued to strengthen up to IDR118 in stock trading today.

For today's trading alone, the shares are still appreciated at IDR12 from the opening of stock trading at IDR106 level.

Issuers that have listed since 1994 was the wholesale goods company. The company is led by Eddy Suwandi and has a controlling shareholder PT Wira Saksama.



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