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Shares in Bumi Citra Permai, an Indonesian construction services company that plans to enter the mining business, rose to a record in Jakarta on Wednesday after the country’s exchange lifted a one-day trading suspension.

Bumi Citra jumped 20 percent to Rp 590, its highest close since its December 2009 trading debut on the Indonesia Stock Exchange (IDX). The stock has surged 162 percent since Nov. 21, when it announced plans to acquire Gunung Besi Utama, which operates an iron ore mine.

The IDX suspended Bumi Citra’s stock from trading on Tuesday because it had climbed 146 percent from Nov. 15-28, and it sought a “cooling down” period of one day.

Trading in the three days to Monday averaged more than 2.7 million shares and had fallen to 1.9 million on Wednesday. On Nov. 21 only 48,000 shares changed hands.

The Gunung Besi purchase might make it easier for the company to convert Bumi Citra into a company in which the main line of business would be iron ore rather than seek a separate listing for Gunung Besi, said one analyst.

“There is the possibility of a backdoor listing, considering that the share movement was not very liquid,” said Satrio Utomo, an analyst at Universal Broker in Jakarta.

Bumi Citra plans to sell Rp 2.42 trillion ($240 million) in shares through a rights offering to finance the acquisition. The company said last week that it would use 94.5 percent of the proceeds to purchase Gunung Besi.

Satrio said this unusual movement should be watched carefully by investors. He is concerned that after the company’s right issue, the share price will drop.

Bumi Citra had a nine-month loss of Rp 200 million through September, compared to Rp 14.3 billion in the same period last year, according to Bloomberg data. Its revenue slipped to Rp 38.9 billion from Rp 64.6 billion.

Additional reporting by Bloomberg