Monday, March 15, 2010

Mobile-8 stocks trading suspended

IDX suspended the trading of Mobile-8 Telecom (FREN) stocks in the first session of trading this morning due to the delay in payment of bonds issued in 2007.
IDX suspended the trading based on Mobile-8 letter dated March 12 stating the company has not been able to provide the 12th interest payment on the bonds issued in 2007. Mobile-8 has also yet to pay fines on the overdue interest payments and including fines payable to KSEI as payment agent.
Last Friday, Mobile-8 stocks were traded heavily. The stock inched up Rp1 to Rp51 with 709 million shares exchanged hands.

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