The Indonesian Stock Exchange (BEI) highlighted the management steps of PT Shoes Bata Tbk (BATA) regarding the closure of the factory in Purwakarta, West Java. Photo/Doc
JAKARTA – PT Indonesian Stock Exchange (BEI) highlighting management steps PT Shoes Bata Tbk (BATA) related to the closure of the factory in Purwakarta, West Java. The shutdown of production facilities is a concern for investors capital market raises the question of where to take the company that existed at that time?
Effective until April 30 2024, public shareholders still control 220.31 million BATA shares or the equivalent of 16.95% of the total shares issued by the company. Meanwhile, the majority is still controlled by the controlling shareholder, namely BAFIN (Nederland) BV, reaching 82.01%.
IDX Director of Corporate Assessment, I Gede Nyoman Yetna, said that his party had asked for the company’s response regarding the company’s ‘going concerns’ in the future. “We have asked BATA for an explanation, and please wait for the answer,” said Nyoman when met at the BEI Building, Wednesday (8/5/2024).
Currently BATA shares are still traded on the IDX Main Board. As of Wednesday (8/5), BATA had strengthened 4.05% at IDR 77 per share. BATA rebounded after previously being under pressure for two consecutive days. Throughout 2024, BATA shares will still be under pressure by 45.39% ytd.
According to regulations, there has been no suspension of BATA, because there is no category (in the stock exchange rules) that makes these shares lockable. “We are monitoring developments, don’t rush into suspension,” he explained.
