JAKARTA – Indonesia Stock Exchange (IDX) has suspended trading of shares in PT Wira Global Solusi Tbk (WGSH) and PT Agro Bahari Nusantara Tbk (UDNG), following their inclusion in the Unusual Market Activity (UMA) watchlist on February 26 and March 14, respectively.

IDX took this step after the share prices of both companies surged within a short period. WGSH’s stock price soared by 40% over the past week and by 79.82% over the past month. Meanwhile, UDNG’s share price skyrocketed by 42.42% over the past week and by 147.37% in the last month.

Yulianto Aji Sadono, Head of Transaction Supervision at IDX, stated that the temporary suspension of WGSH and UDNG shares from the regular and cash markets would start on March 20, 2025.

“This action is a form of protection for investors, allowing them time to analyse market conditions more carefully,” Yulianto said in an official statement, quoted on Thursday (20/3).

He also urged investors to pay close attention to future information disclosures from WGSH and UDNG.

At the close of trading on Wednesday (19/3), WGSH shares were priced at IDR 196 per share, while UDNG shares stood at IDR 94 per share. (EF/KR/ZH)