BEI Stock Soars 325%, SGER Stock Movement Since Early 2023

Shares of PT Sumber Global Energy Tbk (SGER) have surged significantly, prompting the Indonesia Stock Exchange (IDX) to temporarily halt trading in the stock during the first session today as a cooling-off measure.

"The IDX deems it necessary to temporarily halt trading of PT Sumber Global Energy Tbk (SGER) shares on September 22, 2023," the IDX stated in its official announcement, as quoted by *Katadata* on Friday (September 22, 2023).

The sharp cumulative price increase is the primary reason for the temporary suspension of the coal mining issuer. IDX data cited by *Katadata* shows that SGER shares were at Rp2,300 per share on Thursday (September 21, 2023), closing up 9.52%.

Graphically, SGER shares started 2023 at just Rp645 per share. They increased significantly in early August 2023, reaching Rp1,045 per share. Since then, the share price has generally risen. Although it experienced some declines, the share price remained above Rp1,000 per share.

Based on its year-to-date (YTD) performance, SGER shares have soared 253.85%. Over the past six months, the company's shares have increased by 325.93%, and even over the past week, they rose 24.32%.

On the other hand, SGER has also previously received sanctions from the IDX. At that time, the IDX stated that 143 publicly listed companies or issuers were at risk of sanctions for late submission of their 2022 financial reports, including SGER.

The company made its debut on the domestic stock exchange on August 10, 2020, raising Rp54 billion in its initial public offering. Currently, SGER's market capitalization is recorded at Rp9.45 trillion.

The shareholding composition is as follows: PT Sumbermas Inti Energi as the controlling shareholder (P) holds 50.08% of the total outstanding shares; the public holds 30.36%; Vivi Ramalyati Hutama holds 10.95% in individual shares; and Welly Thomas (P) holds 8.61%.

(See also: [AMMN Share Price Soars, What About Other Mining Issuers?](https://databoks.katadata.co.id/datapublish/2023/09/12/harga-saham-ammn-melesat-bagaimana-emiten-tambang-lain))