JAKARTA (Yosefardi) – The Indonesia Stock Exchange (IDX) has this morning halted trading in shares of PT Inovisi Infracom Tbk (INVS), also trading in its warrants, due to its substantial price drop.
The halt aims to cooling down the market as the stock has fallen 70.83% to Rp140 per share at January 2, 2015, from Rp480 in December 15, 2014.
INVS, through its unit PT Goldchild Integritas Abadi, has not conducted due diligence yet to acquire such a coal mining asset.
The company, through its unit PT QDC Technologies, plans to build mini hydro power plant in Sembilin, Dairi, North Sumatera this year which will cost Rp160 billion. The power plant will have capacity of 7.5 megawatts.
INVS also plans to build hydro power plants in Pasaman (West Sumatera) and Ciasem, Subang (West Java).