IDX Suspends Trading of WIFI, SSMS, and PURI Shares

The Indonesia Stock Exchange (IDX) has temporarily suspended trading of the shares of PT Solusi Sinergi Digital Tbk (WIFI), PT Sawit Sumbermas Sarana Tbk (SSMS), and PT Puri Global Sukses Tbk (PURI) on the regular and cash markets, effective from the first session on February 4, 2025.

According to the IDX’s disclosure, this temporary suspension was implemented due to a significant cumulative increase in the prices of these stocks.

Over the past month, WIFI shares surged by 254%, while SSMS shares rose by 85% during the same period. In addition, PURI shares gained 25% in just the past week.

The IDX management stated that this move aims to protect investors holding shares in the affected companies.

"The objective is to provide ample time for market participants to make well-informed investment decisions based on the available information," wrote the IDX management in a statement on Tuesday (Feb. 4).

The IDX also urged stakeholders to consistently pay attention to the disclosures made by the companies involved.

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