The Indonesia Stock Exchange (IDX) has once again imposed a temporary suspension on the trading of shares belonging to conglomerate Prajogo Pangestu’s company, PT Chandra Daya Investasi Tbk (CDIA), due to a significant cumulative price surge.

This marks the second trading suspension for CDIA. The stock was previously suspended on July 17 and resumed trading the following day.

Since its first trading day, CDIA shares have consistently hit the upper auto rejection limit (ARA). In total, the newly listed stock—which just conducted its Initial Public Offering (IPO) this month—has soared by 697.37%, climbing from its IPO price of Rp 190 per share to Rp 1,515 per share. CDIA’s market capitalization has now reached Rp 189.12 trillion, placing it among the most valuable companies on the exchange.

The IDX stated that the suspension was implemented to protect investors, especially those holding CDIA shares. The suspension applies to both the regular and cash markets starting from the first session on July 23, 2025, and will remain in effect until further notice from the Exchange.

“As a form of investor protection, the Indonesia Stock Exchange deems it necessary to temporarily halt trading of PT Chandra Daya Investasi Tbk (CDIA),” stated the IDX management in a disclosure released on Wednesday (July 23).

The Exchange also urged all stakeholders to closely monitor the company’s official disclosures for updated and transparent information.

It is noteworthy that CDIA shares, despite being newly listed, have emerged as a key driver of the index, contributing 9.12 points. Additionally, the stock has been closed at the ARA limit for nine consecutive days, resulting in a gain of over 500%.