JAKARTA – The stock performance of PT Minahasa Membangun Hebat Tbk (HBAT) dropped 332% after a year debuting on the stock exchange, since August 7, 2023. Sales in H1 2024 were recorded at IDR 17.82 billion, up from IDR 14.42 billion in H1 2023.

Based on IDNFinancials data today (8/8), HBAT was closed at IDR 25 per share last Wednesday (7/8). The transaction frequency and volume clocked up to 28 transactions involving 705,100 shares with total value of IDR 18.08 million. Total listed shares were 1.04 billion with market capitalisation of IDR 26.08 billion.

This company issued 240.74 million shares during its initial public offering (IPO) for IDR 108 each. The proceeds were at IDR 26 billion, allocated for landbank of IDR 10.49 billion, and the remaining went to working capital.

As of July 2024, its shares were at 1.04 billion, with shareholders consisting of Hendra Sutanto of 44.94%, Rudy Gunawan of 20.69%, Jon Fieris of 11.24%, and the public of 23.13%. The ultimate beneficiary of the shares is Hendra Sutanto. (LK/ZH)