The Indonesia Stock Exchange (IDX) has temporarily suspended or suspended the trading of shares of PT Bank Victoria International Tbk.

Based on information disclosure on Tuesday (2/3), Head of the Transaction Supervision Division, Lidia M. Panjaitan said, in connection with the significant increase in the cumulative price of shares of the listed company with the code of BVIC, PT Bursa Efek Indonesia considered it necessary to suspend trading of its shares temporarily.

"Trading of shares of PT Bank Victoria International Tbk (BVIC) in the Regular Market and Cash Market starting from the first trading session on March 2, 2021, is suspended until further Exchange Announcements," said the announcement.

Lidia appealed to interested parties to always pay attention to the disclosure of information conveyed by the company.

"Meanwhile, BVIC's share price is in the position of 308. This position is up nearly 167 percent from the position at the beginning of this year," she explained.

Management of Bank Victoria plans to hold an incidental public expose meeting tomorrow, on Wednesday (3/3). Previously, the IDX had also informed that there had been an unusual market activity increase in BVIC shares.

The UMA announcement does not necessarily indicate a violation of the laws and regulations in the capital market. The Exchange submits the latest information regarding listed companies, which is the information on February 22, 2021, published on the IDX website related to explaining transactions' volatility.