IDX Flags Newly Listed JELI Shares After 60% Plunge in Two Weeks

The Indonesia Stock Exchange (IDX) has flagged unusual market activity (UMA) for the shares of PT Niramas Utama Tbk. (JELI), effective from the first trading session on Wednesday (22/7/2026). The stock, which only recently conducted its initial public offering (IPO), has experienced an unusual price decline. According to data from Stockbit, JELI last closed at 715 per share, down 8.92%, and has fallen nearly 60% from its highest closing price since listing. The issuer, which owns the primary brand Inaco, has also recorded a 30.92% decline over the past week. Since its IPO at 900 per share, JELI has dropped 20.56%. This UMA designation comes exactly two weeks after JELI officially listed on the exchange on 7 July. The IDX stated that the announcement of this unusual market activity does not necessarily indicate a violation of laws and regulations in the capital market sector. The exchange is currently monitoring the transaction patterns of the stock. Consequently, investors are advised to pay attention to the listed company’s response to the exchange’s confirmation request, observe the company’s performance and information disclosures, review any corporate action plans that have not yet been approved by the General Meeting of Shareholders, and consider various possibilities that may arise in the future before making investment decisions.