Shares of PT Berkah Beton Sadaya Tbk (BEBS) recorded a drop of 6.92% or touched the low auto rejection to the level of Rp740 in the opening of trading this morning on Thursday (10/6).

The low auto rejection level has been in place since the beginning of trading this week. BEBS's move to announce a-Rp900 billion MoU contract could not withstand the weakening of the company's stock price.

BEBS is a listed company with an IPO on March 10, 2021. BEBS's IPO price was Rp100. Despite experiencing low auto rejection, BEBS's stock was still up 640% compared to the IPO price. Meanwhile, since the listing, the highest price for the company's shares has been at Rp970.

BEBS President Director Hasan Muldhani said his party had signed a memorandum of understanding to expand its business and marketing reach by transferring the Coal Mine Management Cooperation Contract and the Sale and Purchase Contract of Natural Material Raw Materials worth Rp