JAKARTA – The shares of PT Gunung Raja Paksi Tbk (GGRP) plunged 67.3% to IDR 212 on Friday (29/11), down from the previous closing price of IDR 645 on Thursday (31/10).

This decline is attributed to the final trading schedule reflecting a change in the nominal share value from IDR 500 to IDR 140.

Data collected by IDNFinancials on Friday (29/11) shows that GGRP’s shareholders had approved the reduction of its authorized capital from 33.8 billion shares to 12.16 billion shares on July 26, 2024.

The nominal value per share decreased by IDR 360, from IDR 500 to IDR 140, with the difference being returned to shareholders on November 8, 2024. This decision caused the stock to hit its lower price limit, resulting in an automatic suspension.

As for GGRP's shareholder structure, controlling shareholders hold 76.41%, while non-controlling shareholders own 23.58%. The free-float percentage stands at 4.16%, with a total of 1,166 shareholders.

The ultimate beneficiaries include PT Apollo Visintama Putra, Kamaruddin, Chairuddin, Fihahati Taniwan, Suliana Taniwan, Richie Leroy Hasan, and Edward Hasan. (LK/ZH)