Officially Floored, CUAN, SAGE And TRON Opened Green

Photo: Maria Trisnawati/VOI

Three new issuers, PT Petrindo Jaya Kreasi Tbk (CUAN), PT Sapta Entrepreneur Gemilangindah, Tbk (SAGE) and PT Teknologi Karya Digital Nusa Tbk (TRON) officially took the floor on the exchange and opened green.

In its inaugural listing in session I, CUAN's sales opened up 22.73 percent to Rp270. The company released 1.69 billion ordinary shares with an offering price of Rp220 per share and was listed on the main board. CUAN became the 24th listed company in 2023.

The company managed to achieve a total funding of IDR 371.8 billion, equivalent to 15.03 percent of the issued and fully paid capital after the IPO.

The use of funds from the IPO results will be focused on developing the business of PT Tamtama Perkasa, a subsidiary of a thermal coal producer with high calorie quality in Indonesia.

The company also recorded an oversubscribed of 48.85 times the pooling portion offered to the public.

Meanwhile, SAGE in its initial listing shot up 35 percent to Rp135. In the Initial Public Offer, SAGE shares issued 1.61 billion new shares representing 20.04 percent of the issued and fully paid capital, with an offering price of Rp100 per share, so the Company reaped fresh funds of around Rp161 billion.

As for TRON, in its first trade, it shot 22.22 percent to the level of Rp220 from the initial public offering price set by the company of Rp180 per share.

The volume of trading shares was recorded at 71.01 million shares, with a transaction value of Rp15.78 billion and a frequency of 7,820 times.