Friday , March 5 2021

Take note! Tomorrow, Indosat (ISAT) completes public IDX query



Bisnis.com, JAKARTA – Publishing telecommunications operator PT Indosat Tbk. (ISAT) will hold an occasional public offering on Tuesday (12/1/2021) at the request of Indonesia’s Stock Exchange.

In the disclosure of the information about the IDX, ISAT will hold a public exhibition on Tuesday (12/1/2021) at 10.00 WIB. The exhibition is available online at https://youtu.be/0quZLoQV4pc.

“The background for the implementation of public exposure at the request of the stock exchange,” said management of Indosat.

Earlier, PT Bursa Efek Indonesia suspended trading in PT Indosat Tbk shares as a temporary suspension. beginning Friday (8/1/2021).

In the announcement on the official website of IDX, the temporary suspension of trading as a suspension of shares was carried out because the shares of ISAT-coded issuer experienced a significant increase in cumulative prices.

“The Indonesia Stock Exchange considers it necessary to suspend stock trading temporarily,” the IDX wrote, quoted on Friday (8/1/2021).

Meanwhile, the temporary suspension of ISAT trading is carried out on the regular market and the cash market.

Investors are also asked to take time to carefully consider based on available information before placing their investment.

At the close of trading on Thursday (7/1/2021), ISAT shares closed 8.26 percent at IDR 5,900 per share, after experiencing two consecutive trading days of correction. In trading on Monday (4/1/2021), however, ISAT shares hovered 14.85 percent.

In addition, ISAT shares also shot up 128.68 percent in the last month. The rise of ISAT shares can not be separated from information related to the planned merger with Hutchison 3.

CK Hutchison Holdings Limited (CK Hutchison) signed a Memorandum of Understanding (MoU) with Ooredoo QPSC (Ooredoo) to merge the telecommunications company in Indonesia.

Report from CK Hutchion’s page, Monday (28/12), representative of CK Hutchison Holdings Limited Hans Leung said that at present the negotiation process is at the stage of discussing potential transactions to merge PT Hutchison 3 Indonesia, a subsidiary of CK Hutchison, and PT Indosat Tbk. The subsidiaries of Ooredoo.

“CK Hutchison and Ooredoo will negotiate exclusively until April 30, 2021,” Hans said.

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