Ancora shares suspended again
Ika Krismantari, The Jakarta Post, Jakarta | Tue, 04/21/2009 1:29 PM
The Indonesian Stock Market again suspended PT Ancora Indonesia Resources on Tuesday as shares of the local coal company continued to soar even after last week's suspension.
The shares of Ancora still jumped 15 percent to Rp 590 each in the first trading session on Monday. The stock market authority suspended Ancora for one day last Thursday following a more than 100 percent increase in Ancora share prices from April 1 to April 15.
IDX surveillance director Justitia Tripurwasani said on Tuesday that her office was still waiting for confirmation from the company in relation to its plan to acquire local coal companies.
"We don't know how long we will suspend the shares. We are still waiting for feedback from the company," Justita said.
Thursday's suspension was made to give the market a cooling period to justify the movement of Ancora's share prices.
