PT Chandra Daya Investasi Tbk (CDIA) has issued an official statement following the temporary suspension of its shares by the Indonesia Stock Exchange (IDX). The trading halt came after a significant price surge that began from the company's first day of listing on the exchange last week.

Merly, Director of Corporate Affairs at CDIA, stated that the company respects the decision made by the regulator and remains committed to complying with all capital market regulations. She explained that the suspension is part of the market’s supervisory mechanisms implemented by the exchange to maintain fair, orderly, and efficient trading.

“We are grateful for the trust shown by our shareholders and stakeholders,” Merly told Bloomberg Technoz on Thursday (July 17, 2025).

As reported, CDIA shares were suspended by the IDX starting from the first trading session on Thursday, July 17, 2025. The suspension applied to both the regular and cash markets, following a sharp spike in the stock price over a short period. The IDX stated that the suspension served as a cooling-off period to protect investors.

“The purpose is to provide sufficient time for market participants to thoroughly assess the available information before making investment decisions,” the IDX announcement said on Thursday.

In the prior trading session, CDIA shares closed at Rp780 per share—marking a 310% increase from the IPO price of Rp190 per share. This sharp rise pushed CDIA’s market capitalization to Rp97.37 trillion.

CDIA had launched its IPO by offering 12.48 billion new shares to the public at a price of Rp190 per share, raising fresh capital amounting to Rp2.37 trillion. The shares sold to the public represented only 10% of the company’s total listed shares, which amount to 124.83 billion. The remaining shares are held by the two primary shareholders: PT Chandra Asri Pacific Tbk with approximately 60%, and Phoenix Power B.V. holding 30%.

The total demand for CDIA shares during the IPO reached 187.98 billion shares, significantly exceeding the offered amount, resulting in an oversubscription of 175.5 billion shares. The IDX recorded participation from 399,131 investors in the IPO.