Jakarta, CNBC Indonesia – The shares of PT Sri Rejeki Isman Tbk (SRIL) used to always have many ‘story’ so they were favored by traders to transact. But now, the textile company’s shares are in danger of being removed from the trading board or delisting.
The potential delisting is a warning from the Indonesia Stock Exchange (IDX) considering that SRIL’s shares have been suspended for 12 months. “The suspension period will reach 24 months on May 18, 2023,” as quoted from information disclosure, Thursday (19/05/2022).
As is known, shares can be expelled from the stock exchange if they are suspended for 24 months. In addition, conditions or events that affect business continuity are another consideration for the affected shares delisting.
The regulation is contained in the Stock Exchange Regulation No.: II concerning the Elimination of Listing (Delisting) and Re-listing (Relisting) Shares on the Exchange. However, this provision is not strictly enforced within the 24 month deadline.
The IDX still provides opportunities for prospective issuers who delisting to make business improvements and demonstrate going concern company.
SRIL shares are currently owned by PT Huddston Indonesia at 59.03% or equivalent to 12.07 billion shares. Iwan Kurniawan controls 0.52%. A number of names are also minority shareholders, including community ownership of 39.98% or the equivalent of 8.16 billion SRIL shares.
Next Article
Creditors Agree, Sritex is Free from the Snare of Bankruptcy
–
–
(dhf / dhf)
–
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/metroworldnews/7HXUXCT7SVC23KVLYXDUHX4CQI.jpg?resize=150%2C150&ssl=1)