JAKARTA – Stock performance of two issuers, PT Pulau Subur Tbk (PTPS) and PT Kokoh Exa Nusantara Tbk (KOCI), stumbled after one-year debuting in the stock exchange, on October 6 and 9, 2023.

Based on IDNFinancials data compiled today (9/10), KOCI saw 56.66% decline to IDR 52 at the closing bell last Monday (7/10) from its offering price during initial public offering (IPO) on October 6, 2023, of IDR 120 per share.

Similarly, PTPS saw 144.44% slippage to IDR 81 per share at the closing bell yesterday (8/10) from IDR 198 per share set at IPO on October 9, 2023.

For its IPO, KOCI offered 4.41 billion shares, consisting of 3.96 billion shares of controllers, and another 450 million shares that belong to the public. As of September 2024, KOCI’s shareholders comprised controllers of 49.91% and non-controllers of 50.09%. There were 2,987 shareholders listed, with the ultimate beneficial owner of the shares being Michael Sugiarto, Liesi Jenny Nurjani, Sulistiari Tjan, Linda Caroline Tjokro, Johan Wijaya, and Kan Eddy.

PTPS issued 2.16 billion shares during IPO, consisting of 1.71 billion shares of controllers, and the public, 450 million. As of August 2024, shareholder structure of this issuer was reportedly made up of controllers’ portion of 78.54%, and non-controllers, 21.46%. There were 7000 shareholders listed, with the ultimate beneficial owner of the shares of Abunawar. (LK/ZH)