JAKARTA (Indonesia Today) – Shares of Inti Bangun Sejahtera (IBST) or IBS Tower dropped as much as 12.73% Monday (November 12) after Indonesia Stock Exchange (IDX) lifted trading halt on the stock.
IDX management has since September 12, 2012 suspended the trading of IBST due to substantial hike from Rp1250 to Rp5500 in just few trading days.
Inti Bangun Sejahtera operates towers for telecommunication operators. Its competitors include PT Sarana Menara Nusantara (TOWR) Tbk, PT Tower Bersama Infrastucture (TBIG) Tbk, and PT Solusi Tunas Pratama (SUPR) Tbk.
Both TOWR and TBIG declined 0.94% and 0.25% Monday morning, while Indosat and Telkom lost 1.54% and 0.53% respectively. (Indonesia Today)