JAKARTA. Foreign investors mass-collect PT Newport Marine Services Tbk’s (BOAT) shares after this oil and gas industry service provider debuted on Indonesia Stock Exchange (IDX).

BOAT entered IDX on November 12, 2024, after conducting initial public offering (IPO) of 1 billion shares and raising IDR 100.05 billion of fresh funds.

According to IDNFinancials data, foreign investors reportedly have purchased 34.16 million shares of BOAT since its debut until last week.

With foreign sell standing at 26.16 million shares, foreign investors posted net buy of up to 8 million shares.

Net buy trend was consistently evident from November 12 to 25, 2024. The trend was skipped on November 26 and 28, before another net buy was recorded on November 29, 2024.

According to IDX report, BOAT was quite active in the market last week, recording transaction frequency of 105 thousand, or 2.30% of total transaction occurred last week.

For the record, BOAT has plunged 18.88% or 54 points to IDR 232 per share within the past 5 days. However, since its debut, BOAT has increased 68.12% or 94 points. (KR/ZH)