JAKARTA. The authority of Indonesia Stock Exchange (IDX) has suspended the transaction of PT Multipolar Technology Tbk (MLPT) after showing an unusual rapid price surge.

In the official statement dated September 13, 2024, IDX announced that suspension of MLPT took effect since today’s (17/9) first session. The suspension will remain effective until further announcement from the stock exchange.

Prior to this, on September 11, 2024, MLPT has been monitored closely by the stock exchange authority due to an unusual market activity (UMA) seen in this Lippo Group issuer.

“As a part of investor protection, IDX deems necessary to put temporary suspension over MLPT’s stock transaction in the regular and cash market,” added the authority in the official disclosure.

According to IDNFinancials data, MLPT saw 50.35% surge to IDR 4,330 in the past 5 days. In the meantime, within the past month alone, MLPT’s stock price has soared 146.27%. (KR/ZH)