BEI Will Delist 8 Companies, Starting From July 21, 2025

TEMPO/Tony Hartawan

BEI Will Delist 8 Companies, Starting From July 21, 2025

Friday, 28 Feb 2025

The Indonesia Stock Exchange (IDX) has announced the delisting of eight listed companies. This decision will take effect on July 21, 2025, as stated in an official announcement released on Friday (December 20). The companies being delisted include PT Mas Murni Indonesia Tbk (MAMI), PT Forza Land Indonesia Tbk (FORZ), PT Hanson International Tbk (MYRX), PT Grand Kartech Tbk (KRAH), PT Cottonindo Ariesta Tbk (KPAS), PT Steadfast Marine Tbk (KPAL), PT Prima Alloy Steel Universal Tbk (PRAS), and PT Nipress Tbk (NIPS).

This decision follows the IDX Regulation Number I-N regarding the delisting and relisting of shares. One reason for the delisting is significant conditions or events that negatively affect the company's operations, both financially and legally, with no signs of adequate recovery.

The delisting process is outlined as follows: The announcement date for the delisting decision to the public and the notification letter to the company, along with a buyback recommendation, will be on December 19, 2024. The deadline for the company to disclose buyback information and start the buyback will be January 18, 2025. The buyback period for the company will run from January 20 to July 18, 2025, with the delisting becoming effective on July 21, 2025.

Pande Made Kusuma Ari A., Head of the Trading Regulation and Operations Division at IDX, stated that even though the company's shares are being delisted, the company must still fulfill its obligations to the Exchange until the delisting is effective. "The approval for the delisting does not eliminate the obligations that the company has not fulfilled to the Exchange," Pande noted in a written statement.

Delisting Rules According to stock exchange regulation number I-N regarding delisting and relisting of shares, the exchange will remove a listed company's shares if it meets at least one of the following conditions: Condition III.1.3.1. The listed company faces a significant event or condition that negatively impacts its business continuity, either financially or legally, and it cannot demonstrate sufficient signs of recovery. Condition III.1.3.2. The company's shares have been suspended from trading, either in the regular market or cash market, and/or across all markets, for at least the last 24 months.

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