JAKARTA (Indonesia Today) – The management of Indonesia Stock Exchange (IDX) suspended again the trading of telecommunication tower operator PT Inti Bangun Sejahtera (IBST) Tbk shares Wednesday (Sept 12).
IDX halted the trading for cooling down as the stock has skyrocketed 266.67% since August 31, 2012. IDX suspended IBST trading on Monday due to 197% gain since August 31, but resumed on Tuesday.
The stock soared more than 24% to Rp5,500 on Tuesday (Sept 11), which triggered another trading suspension this morning.
IBST launched an initial public offering (IPO) at Rp1,000 per share to raise Rp154 billion. The company started the trading with market capitalization of Rp1.028 trillion. At Rp5,500 per share, IBS Tower’s market capitalization surged to Rp5.65 trillion.
PT OSK Nusadana Securities and PT Sinarmas Sekuritas were underwriters of the IPO.