Indonesia Stock Exchange: Share Trading Golden Eagle Energy Suspended
The trading of shares of Indonesian coal miner Golden Eagle Energy has been suspended for the second time this month by the Indonesia Stock Exchange (IDX) on Wednesday (25/11) after the company's share price plunged nearly 76 percent since 2 November 2015. Irvan Susandy, Chief of Transaction Supervision at the IDX, said share trading had to be suspended as Golden Eagle Energy, a subsidiary of Rajawali Corpora, has not provided any information to the IDX that could explain its recent stock performance.
On 2 November, the Indonesia Stock Exchange had already suspended trading of Golden Eagle Energy after its shares had fallen 56.5 percent between 12 October and 2 November. Trading in the company's shares was allowed to resume on 3 November.
Rajawali Corpora, founded in 1984 by business tycoon Peter Sondhak, is one of Indonesia's largest conglomerates.
Stock Quote Golden Eagle Energy - SMMT:
Earlier this month, the Indonesia Stock Exchange suspended stock trading of Express Transindo Utama, Sekawan Intipratama, Intan Baruprana Finance, and Siwani Makmur. Activities of three brokerages - Danareksa Sekuritas, Reliance Securities, and Millenium Danatama Sekuritas - were also suspended for one day (11 November) related to the ongoing investigation into the alleged fictitious trading of coal mining firm Sekawan Intipratama's shares.
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