JAKARTA – The stock of PT Mutuagung Lestari Tbk (MUTU) or Mutu Internasional broke through, soaring 34.2% in its first day of debut on Indonesia Stock Exchange (IDX) today (9/8). Mutu Internasional has issued 942.86 million shares for IDR 108 each on August 2-7, 2023.

At today’s opening bell on IDX today (9/8), MUTU’s shares were reportedly increasing IDR 37 from its initial public offering (IPO) price. This achievement is accompanied with a record of oversubscription of 252 times as reported by IDNFinancials yesterday (8/8).

Other than expanding its testing laboratories, in the future, the company is ready to participate in Carbon Exchange regulated by the Financial Services Authority (OJK). It will extend MUTU’s initiative in the green economy sector begun by MUTU since 2015 with several types of certification schemes, including ISCC, social carbon, etc.

“MUTU supports the plan of OJK as it has become the Greenhouse Gas (GHG) Verification and Validation Institution accredited by National Accreditation Body of Indonesia (KAN), as well as the first Verification and Validation Institution listed under National Registry System,” Irham Budiman, Director of Operation of MUTU Internasional, explained.

For the record, MUTU reported the highest increase in its stock price amongst three newly debuted issuers on IDX today (9/8). It beat PT Humpuss Maritim Internasional Tbk (HUMI) with 5% increase and PT Lupromax Pelumas Indonesia Tbk (LMAX) that dropped 10% in its initial trading session. (ZH)