In September-October 2012, share price of Suparma (SPMA) surged from below Rp250 to Rp450 following market rumors about acquisition of 45% shares by world paper giant Stora Enso. Rumors were JP Morgan Securities had been hired by Stora Enso for the transaction, reportedly with target price of Rp600. We all know that Suparma’s share price immediately retreated to Rp250 in just few days of trading and closed at Rp210 on Wednesday (Jan 08, 2014).

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