IDX Suspends Wijaya Karya Shares
Jakarta. The Indonesia Stock Exchange suspended Monday the shares of state-run construction company Wijaya Karya (WIKA) in all trading platforms due to an internal financial issue.
The decision was taken after Wijaya Karya notified the IDX of its failure to repay Sukuk, or sharia-compliant bonds, on the due date on Monday.
“This indicates a problem in the company’s [financial] conditions,” the IDX said in a public filing without providing any detail.
WIKA shares are barred from being traded until further notice, the statement said.
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Before the suspension took effect earlier in the day, WIKA shares were priced at Rp 240, suffering a 41.75 percent decline in the past month.
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