Jakarta - The Indonesia Stock Exchange authority suspended PT Mahaka Media Tbk (ABBA) shares on August 24, 2021.

IDX Transaction Supervision Division Head Lidia M Panjaitan said the suspension resulted from a significant cumulative price increase in ABBA's shares.

"In the context of cooling down, IDX deems it necessary to temporarily suspend ABBA share trading," said IDX's official publication on Tuesday (24/8).

Furthermore, the suspension of trading in ABBA shares was carried out in the regular market and cash market to provide sufficient time for market participants to consider carefully based on the information available in each of their investment decisions in ABBA shares.

The IDX expects interested parties to always pay attention to the disclosure of information submitted by the company.