JAKARTA - PT Pantai Indah Kapuk Dua Tbk (PANI) has replaced PT Pembangunan Perumahan (Persero) Tbk (PTPP) at 63rd in the IDX80 Index. The state-owned company's position slipped to 68th in the index, which consists of 80 issuers.

IDX data quoted on Thursday (24/4), PANI became an IDX80 constituent with a free float ratio of 13.61% after a major evaluation. The number of shares was recorded at 2.12 billion shares with a weight of 0.64% after the major evaluation. The effective period of constituents and the number of shares for calculating the Index is valid from May 2 to July 31, 2024.

PTPP, which slipped to 68th in IDX80 constituents, recorded a free float ratio of 48.8%. The number of pre- and post-evaluation shares is stable at 3.02 billion shares and the weight remains 0.08%.

PANI is controlled by PT Multi Artha Pratama (MAP) with 89.2% share ownership from a total of 15.62 billion shares as of March 2024 and 10.8% public. This issuer got bigger after being acquired by the Salim Group and Agung Sedayu Group (ASG) in mid-2021.

The performance of this issuer continues to show an upward trend after carrying out a number of corporate actions. In the second rights issue at the end of 2023, PANI raised IDR 10.5 trillion, which was used to add seven subsidiaries in the property business and new land. The company's total land bank is 1,607 hectares (Ha). (LK/LM)