Dec 23, 2010

IDX to delist New Century Development

Indonesia Stock Exchange (IDX) shall conduct a delisting over the stock of Indonesia’s property company, PT New Century Development Tbk (PTRA) by 24 January 2011.
In the official statement unveiled in IDX’s website, such delisting relatively corresponds to the Regulation No. I-I on Stock Deletion and Delisting in Indonesia’s stock market.
The market authority delisted the stake of a listed company if it experiences a particular condition or situation that significantly give negative influence towards the company’s business continuity seeing from financial and legal perspectives.
Prior to such delisting, the market authority facilitated New Century’s stocks trading in the negotiation market for 20 trading days from 23 December 2010-21 January 2011.
By such delisting, New Century no longer poses any obligation as a listed company and the market authority shall removed the company’s name from the list of Indonesia’s listing company.

Disclosure: No position at the stock mentioned above.  

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