JAKARTA. The Indonesia Stock Exchange (IDX) has suspended the shares of PT Minna Padi Investama Sekuritas Tbk (PADI), due to a significant decline in their prices within 1 day.
The suspension will apply on the regular and cash markets. "In the context of cooling down, the IDX considers it necessary to temporarily suspend the shares of Minna Padi Investama Sekuritas (PADI)," BEI explained in its official announcement on Tuesday (21/1) yesterday.
On Tuesday (21/1), the price of PADI shares fell by 34.78% to Rp 75 per share. At the end of trading on Monday (20/1), the price of PADI shares was still at the level of Rp 115 per share. The Rp 75 per share price is the lowest since 15 June 2012.
Previously, the Financial Services Authority (OJK) had frozen 6 of PADI's mutual fund products, since they are promising too much benefits to customers. (KR/AR)