JAKARTA - PT Raharja Energy Cepu Tbk (RATU), a company engaged in the oil and gas sector, officially listed its shares on the Indonesia Stock Exchange (IDX), Wednesday (8/1). In the first trading session, RATU shares rose 24.78%, almost touching the upper auto rejection limit (ARA), to IDR 1,435 from the offering price of IDR 1,150.

The company conducted an Initial Public Offering (IPO) of 543,010,800 shares with an offering price of IDR 1,150 per share. That way, RATU managed to raise IDR 624 billion from this action.

Raharja's President Director, Alexandra Sinta Wahjudewanti said the company is grateful for the extraordinary support from investors. "This IPO is a strategic step to strengthen the company's position, increase access to funding, and expand our business network," she said.

Based on its financial statements, in the second quarter of 2024, total assets reached US$50,623,758 million, total liabilities were US$29,737,679 million and total equity was US$20,886,079 million. 

With this initial listing, RATU hopes to improve operational performance and provide added value to shareholders.(DK/LM)