JAKARTA – The stock of PT Sari Kreasi Boga Tbk (RAFI), a kebab outlet managing company, crashed 80.64% year-on-year (yoy) after one year debuting in the stock exchange last year on August 5, 2023. During its IPO, its stock price was set to IDR 126 per share.

Based on IDNFinancials data today (6/8), RAFI’s shares are offered for IDR 24 per share. Yesterday (5/8), the transaction volume and frequency were at 3.11 million shares, recorded within 97 times, worth IDR 71.75 billion. Its shares clock up to 3.12 billion shares, amassing market capitalisation of IDR 75.07 billion.

For comparison, during its IPO, its shares were 3.12 billion shares, consisting of founders’ shares of 2.18 billion and public shares of 948.09 million. The shares were offered for IDR 126 per share, making its market cap reached IDR 394.14 billion. RAFI managed to raise IDR 119.45 billion from this corporate action.

The IPO proceeds were then allocated for the acquisition of PT Lazizaa Rahmat Sentosa (LRS) of IDR 13 billion, leaving the remainder as working capital. (LK/ZH)