HomeNewsVideos

KBRI might delist after its executives step down

27 October 2021 12:43

JAKARTA – PT Kertas Basuki Rachmat Tbk (KBRI) is potentially delisted off the board in Indonesia Stock Exchange (IDX) after its stock trading has been suspended over the last 30 months. This condition is triggered by the lack of improvement in performance and the resignations of KBRI’s directors and commissioners.

In the information disclosure, quoted today (27/10), it was mentioned that the delisting could take place once the company faces a condition that significantly affects its continuity, be it financially or legally. Additionally, IDX could also remove KBRI’s stock recording as its stock trading activities had been suspended in the regular and cash market. Its stock was only available for trading in the negotiation market over the last 24 months. As of October 23, 2021, KBRI’s shares have been suspended for 30 months.

By the end of September 2021, KBRI’s total shares amounted to 8,687,995,753 shares. Quest Corporation owned 10.60%, Suisse Charter Investment Ltd 34%, Wyoming International 30.40%, and public investors 25%.

As been previously informed, Hendra Santoso, Director of KBRI, effectively stepped down on March 31, 2021. Then, it was followed by the resignation of Sonie Budi Wijaya, KBRI’s President Commissioner, on January 3, 2020, and Yona Ora Yuliasi, KBRI’s Independent Commissioner, on March 1, 2020. (LK/ZH)

© 2024 - IDN Financials - All Rights Reserved.