Officially Entering The Stock Exchange, Drinks Get IDR 40 Billion To Open New Outlets

Illustration of the stock exchange (Photo: Doc. Antara)

PT Platinum Nusantara Wahab (TGUK) officially listed its initial shares on the Indonesia Stock Exchange (IDX), Jakarta, Monday, with its shares recorded an increase of 34.55 percent to IDR 148 from the bid price of IDR 110 per share or penetrated the top auto reject (ARA).

The shares of MSME players with drink products opened were at the highest level of IDR 148 per share and the lowest level was IDR 148 per share. The total trading frequency is 861 times with a trading volume of 295,579 shares and a daily transaction value of IDR 4.37 billion.

TGUK CEO Maulana Hakim said the company had no debt, posted a positive profit, with its own business model (no-franchise and no venue), so that the company became part of sharia shares in the Indonesian capital market.

"Through this initial share offering, Tumpik will increase outlets, strengthen production capacity, increase marketing reach and digital innovation," he said.

In the IPO, the company offers as many as 1.07 billion new shares or equivalent to 30 percent of the issued and fully paid capital after the IPO, so that the company managed to obtain fresh funds of IDR 117.85 billion.

The beverage shop company PT Platinum Nusantara Wahab Tbk (TGUK) has prepared funds of Rp40 billion as an effort to open 220 new outlets in 2023, after the company officially listed its initial shares on the Indonesia Stock Exchange (IDX).

"We will end up to 220 stores, including those in the US (United States)," said Maulana.

In an effort to expand abroad, his party will add as many as three new outlets in the United States (US), where the company currently has a outlet in New York City, USA.

"What is certain is that we will focus this year on expanding the network in the US, because the potential is very there, beyond expectations in the US the enthusiasm is high, we are referred to as halal BOBa in Manhattan," said Maulana.

As a local MSME, the company has received trust support from three ministries, namely the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM), the Ministry of Tourism and Creative Economy (Kemenparekraf), and the Ministry of Youth and Sports (Kemenpora).

"This success is a historic milestone for Sneering drinks and I also thank all investors, employees, business partners, consumers and all groups, including the loyal community of TGUK in Indonesia and America, who provide support and trust," said Maulana.

In the initial listing ceremony, the Minister of Cooperatives and SMEs Teten Masduki also attended and appreciated the company's steps, which had dared to take corporate action in the form of an IPO.

Previously, Minister of Tourism and Creative Economy Sandiaga Uno congratulated Tumpuk and emphasized that MSME actors play an important role in economic development.

The pumping outlet has arrived in New York City, United States (US), which makes it a contemporary Indonesian drink that goes international.