BIKE Applies to BEI to Lift Share Suspension Following Price Surge and Acquisition
PT Sepeda Bersama Indonesia Tbk (BIKE) has applied to the Indonesia Stock Exchange (BEI) for the lifting of the suspension on its shares. This follows volatility in the share price and the acquisition of PT Penajam Makmur Jaya (PMJ). Key details include price data, chronology, and implications.
Based on the disclosure of information dated 6 May 2026, the application was submitted after the company provided clarification regarding the sharp rise in share prices over the past month. As of 29 April 2026, BIKE shares had risen by approximately 26.87%, with a daily surge reaching 24.55%. This volatility drew BEI’s attention and led to a temporary halt in trading (suspension).
Management stated that there is no other undisclosed material information. The company also affirmed that there are no significant impacts on operations or financial condition. This could be a consideration for BEI in evaluating the lifting of the suspension. BIKE is a major issuer in bicycle trading.
Changes in Control and Business Strategy Direction
The movement in BIKE shares also coincided with the acquisition action by PT Penajam Makmur Jaya (PMJ). The takeover amounted to approximately 74.936% of shares, or the equivalent of 921.5 million shares, through negotiated market transactions. This transaction marks the shift in control from previous shareholders to new controllers.
In line with this, the company is potentially set to receive funding support of up to Rp1 trillion from the new controller. These funds are planned to strengthen working capital and business expansion. BIKE also plans to diversify into the energy and technology sectors through adjustments to its business activities (KBLI).
The company reaffirmed its commitment to remaining a public company and complying with capital market regulations, including plans to carry out a mandatory tender offer (MTO) in accordance with OJK provisions. The final decision on lifting the suspension now rests entirely with BEI.