IDX Closely Monitors Trading of NETV, BIKE, and MEJA Amid Unusual Market Activity

The Indonesia Stock Exchange (IDX) is closely monitoring the stock performance of PT MDTV Media Technologies Tbk (NETV) due to an Unusual Market Activity (UMA) following a sharp and abnormal rise in share prices.

However, the exchange clarified that the UMA announcement does not automatically imply any violation of capital market regulations, but rather serves as a cautionary alert for irregular trading patterns.

The latest corporate disclosure from NETV was on April 15, 2025, detailing the publication of a General Meeting of Shareholders (GMS) notice, which was made available on IDX’s official website.

“Following the UMA occurrence in NETV shares, we are currently monitoring the stock’s trading patterns,” the IDX stated on Thursday, April 24, 2025.

NETV shares have surged by 64% over the past week and have soared 76% over the past month.

In addition to NETV, the IDX is also observing the trading of PT Sepeda Bersama Indonesia Tbk (BIKE) due to indications of abnormal trading activity. The latest update on BIKE was dated April 10, 2025, regarding its annual report and ESG disclosure.

Meanwhile, PT Harta Djaya Karya Tbk (MEJA) experienced an unusual drop in share price, prompting further scrutiny. MEJA’s last public disclosure was on April 15, 2025, concerning changes in share ownership.

As a result, the IDX advises investors to:

• Pay attention to the issuer’s responses to IDX’s clarification requests,

• Carefully evaluate the issuer’s performance and information transparency,

• Reconsider any corporate actions that have not yet received shareholder approval,

• And thoroughly assess all potential risks before making investment decisions.