Shares Surge Over 200% in a Month, Indonesia Stock Exchange Suspends TRUK

The Indonesia Stock Exchange (IDX) has temporarily halted trading of PT Guna Timur Raya Tbk. (TRUK) due to a significant cumulative increase in share price. The company’s shares have soared by hundreds of per cent over the past month.

According to the IDX’s information disclosure, the suspension of TRUK shares took effect from the pre-opening session on 28 September 2026 in both the regular and cash markets, and will remain in place until further announcement by the Exchange. This measure is intended as a form of protection for investors, particularly for TRUK shareholders.

“The Indonesia Stock Exchange deems it necessary to temporarily suspend the trading of PT Guna Timur Raya Tbk (TRUK),” the IDX management stated. The Exchange urged all interested parties to closely monitor the information disclosures provided by the Company.

For context, TRUK shares rose by 50.44% over the last five days and skyrocketed by 216.5% over the past month, reaching a position of Rp 2,580 per share with a market capitalisation of Rp 1.1 trillion.

The price surge of PT Guna Timur Raya Tbk. (TRUK) follows large-scale transactions conducted by major shareholders. Two individuals performed jumbo share purchases worth billions of rupiah.

According to the Indonesia Stock Exchange (IDX), these two individuals include Gabriel Rey and Andri Hakim. Gabriel Rey entered the transport services issuer through PT Pukul Rata Kanan, acquiring 65,250,000 units of shares, equivalent to a 15% voting right in the company’s total shares. This purchase was executed on 18 September 2026 at a price of Rp 428 per share, totalling Rp 27.9 billion.

Additionally, Andri Hakim invested in TRUK through Hakimson Growth Capital, acquiring 21,750,000 units of shares, representing 5% of the company’s total shares. This transaction was also conducted on 18 September 2026 at a price of Rp 428 per share, with an investment value of approximately Rp 9.3 billion.

Alongside these two individuals, Catur Dharma Anugerah Surya also purchased 87 million shares of TRUK at the same price level, bringing his total ownership to 20%.