JAKARTA - The share performance of PT Maja Agung Latexindo Tbk (SURI) has fallen 70% after its initial public offering in early December 2023. This note places this issuer in a row of weakly performing issuers this year.

Based on the data compiled by IDN Financials, Monday (2/12), SURI's share price was traded at IDR 50 shares, down from the offering price of IDR 170 per share on December 5, 2023. The volume of shares traded was 76.56 million in 2,391 transactions worth IDR 3.95 billion. Meanwhile, market capitalization (marketcap) was recorded at IDR 316.71 billion.

Apart from that, this issuer is also facing requests for Postponement of Debt Payment Obligations (PKPU) from four retail creditors worth a total of IDR 193.39 million. However, this issuer has paid some of its obligations, leaving IDR 71.03 billion remaining last week.

During the IPO, SURI offered 1.26 billion shares with a nominal value of IDR 20 per share. The total funds raised by this issuer were IDR 215.36 billion, of which 49.45% was allocated for capital expenditure and the remaining 50.55% as operational expenditure. (LK/LM)