JAKARTA – A year into its debut in the stock exchange, the stock performance of PT Agro Bahari Nusantara Tbk (UDNG) plummeted 52% as of yesterday’s (6/11) closing bell.

Based on the data compiled by IDNFinancials today (7/11), the company issued 500 million shares on its debut day on Indonesia Stock Exchange (IDX) on October 31, 2023. In this corporate action, the company raised IDR 50 billion of fresh funds, the entirety of which is used for shrimp farm expansion.

Yesterday (6/1), the transaction volume reached 217,600 shares, recorded in 37 transactions worth IDR 10.45 million, with total listed shares of 1.75 billion.

The composition of UDNG’s shareholders consist of controlling party of 58.1% and non-controllers of 41.9%. It records 1,950 shareholders with the ultimate beneficial owner of the shares being Jose Loupiga Keliat, Vincent Lukito, and Christian Brandon Limbono. (LK/ZH)