JAKARTA – PT Koka Indonesia Tbk (KOKA) and PT Logisticsplus International Tbk (LOPI) plummeted a year after debuting on Indonesia Stock Exchange (IDX) via initial public offering on October 11, 2023.

Based on compiled data of IDNFinancials, Thursday (10/10), KOKA’s price arrived at IDR 62, down 51.56% compared to IPO price of IDR 128 per share. Yesterday (9/10), KOKA reported transaction volume of 3.83 million shares in 171 transactions worth IDR 234.98 million. Total listed shares were 2.86 billion, with market capitalisation of IDR 177.40 billion.

During IPO, it also recorded 2.86 billion shares, consisting of founders’ shares of 2.14 billion and the public’s of 715.33 million. As of September 2024, controlling party owned 42.75% of the shares, leaving the remaining 57% to non-controllers. The shareholders were reported reaching 4,219, with free float rate of 16.17%.

Meanwhile, LOPI crashed even further, hitting IDR 26 per share or 74% lower from IDR 100 set in its IPO. It recorded transaction volume of 6.77 million in 246 transactions worth IDR 179.35 million throughout yesterday’s (9/10) session.

The number of listed shares reached 1.10 billion with market cap of IDR 28.60 billion during IPO. The shareholder structure is founders’ shares of 800 million and the public of 300 million. The number of shareholders reached 2,284, with the ultimate beneficial owner of the shares being Wahyu Dwi Jatmiko. (LK/ZH)