JAKARTA – Just two weeks after its debut on the Indonesia Stock Exchange (IDX), shares of PT Jantra Grupo Indonesia Tbk (KAQI) have seen a significant price drop. This has led IDX to suspend trading of KAQI shares starting today, Monday (24/3).

This suspension marks the second warning issued by IDX regarding the sharp decline in KAQI shares. Previously, on Monday (17/3), KAQI shares were placed on the Unusual Market Activity (UMA) list due to unusual transaction patterns.

Since listing on IDX on March 10, 2025 with an initial offering price of IDR 118 per share, KAQI’s performance has continued to decline. On Monday (17/3), its shares fell by 7.93% to IDR 58 per share. Last Friday (21/3), KAQI shares weakened again by 3.85% to IDR 50 per share. On a weekly basis, the stock has already dropped by 13.79%.

Yulianto Aji Sadono, Head of IDX’s Transaction Supervision Division, explained that the trading halt aims to protect investors and allow market participants time to reconsider their investment decisions.

“The exchange urges all parties to always pay attention to the information disclosures provided by the company,” he said in a written statement on Friday (21/3). (EF/ZH)