Stock Fluctuations Increase, BEI Sends Clarification Letter to Bank Bumi Arta (BNBA)

Jakarta, 26 September 2024 – The Indonesian Stock Exchange (BEI) sent a letter of clarification to PT. Bank Bumi Arta Tbk. (BNBA) regarding the surge in activity and the company's share price on September 23 2024. In letter number No: S-10115/BEI.PP3/09-2024, BEI questioned the cause of the significant spike in BNBA share transaction volume.

On that day, BNBA share trading activity experienced an extraordinary increase. Transaction volume jumped from 2,186,100 shares on the previous day to 13,678,200 shares, with transaction frequency increasing drastically from 157 times to 1,086 times. This increase was also accompanied by an increase in share prices of IDR 40 or 5.63%, from IDR 710 to IDR 750 per share.

Responding to BEI's request for clarification, BNBA Corporate Secretary, Lyvinia Sari, said that the company did not know the reasons behind the volatility. In her statement delivered on Thursday (26/9), Lyvinia emphasized that there was no material information that had not been disclosed to the public that could influence share prices or shareholder investment decisions.

"The company is not aware of any material information or facts that could influence the value of the company's securities or investors' investment decisions," said Lyvinia.

Furthermore, Lyvinia also explained that the company has no plans to take corporate action in the near future, including plans that could have an impact on the listing of shares on the stock exchange. He emphasized that to date, there has been no significant activity from certain shareholders related to changes in share ownership in the company.

"There are no plans by the main shareholders regarding their share ownership in the Company to date," he added.

IDX will continue to monitor developments in BNBA stock activities to ensure that there are no actions that violate the rules in the capital market.