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Magna Investama will be delisted by the IDX

09 July 2020 07:34

JAKARTA. The Indonesia Stock Exchange (IDX) will delist the shares of PT Magna Investama Mandiri Tbk (MGNA) from the listing board, after the company recorded losses for four consecutive years.

Goklas Tambunan, Head of BEI's Corporate Assessment Division, explained that so far, MGNA shares has been suspended in all markets for six months. "The suspension period will reach 24 months on 8 January 2022," Tambunan said through an official announcement.

According to the Exchange regulations, delisting can be done if the company experiences a number of conditions. such as suspension for two years or poor financial performances for several years.

For information, MGNA shares are owned by several groups of investors. Nobhill Capital Corp owns 17.94% of MGNA shares, PT GMT Investama owns 7.03%, Sutan Agri Resources Pte owns 16.95%, Pacific Equity Mutual Funds owns 5.98%, and the rest are owned by public investors. (KR/AR)

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