JAKARTA – The stock of PT Multikarya Asia Pasifik Raya Tbk (MKAP) has increased 273.91% to IDR 430 per share from IDR 115 per share seen during its debut on the stock exchange on February 12, 2024.

Based on IDNFinancials data on Monday (20/5), MKAP recorded the lowest transaction price of IDR 420 per share, and the highest of IDR 430 per share, at the end of last Friday’s (17/5) trading session. The trading volume was recorded at 61.61 million shares in 4,898 transactions worth IDR 26.21 billion. Positive sentiment then drove investors to collect more, as foreign buy reached 4.56 million, compared to foreign sell of 1.42 million shares.

During its debut, MKAP recorded trading volume of 27.82 million within 7,513 transactions worth IDR 4.31 billion. Foreign buy was still recorded at zero, while foreign sell reached 150,900. The closing price was also its highest transaction price, amounting to IDR 155 per share, while the lowest was IDR 150 per share.

Aside from growth in stock price, its performance trend was also reportedly positive in Q1 2024, as MKAP’s revenue increased 12.56% year-on-year (yoy) to IDR 79.69 billion from IDR 70.76 billion in Q1 2023, followed by gross profit that went up 11.15% to IDR 31.06 billion from IDR 27.94 billion, and the current year’s net profit that soared 24.81% yoy to IDR 15.36 billion from IDR 12.31 billion. (LK/ZH)