The Indonesian stock exchange suspended trading in the shares of PT Perdana Karya Perkasa after the stock jumped 141.57 percent between Sept. 10 and Oct. 2.
"The stock exchange needs to suspend trading of Perdana Karya Perkasa shares on Oct. 3 to cool down the price," the exchange said in a statement.
The coal miner is in the process of acquiring a 5,000-hectare mine in East Kalimantan, the company had said in a statement to the stock exchange last month.
Shares of Perdana soared to their highest in nine months on Tuesday to 220 rupiah, from a year-low of 78 rupiah on July 24, and closed the day at 215 rupiah.
The broader Jakarta Composite Index was down 0.04 percent.
1127 (0427 GMT)
(Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob)
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Keywords: MARKETS INDONESIA STOCKSNEWS/PERDANAKARYA