IN ORDER To Officially List IPO Today, Its Shares Are Oversubscribed

Coordinating Minister for the Economy Airlangga Hartarto (second from the right). (Photo: Aris Nurjani/VOI)

The issuer of nuts producer PT Gunanusa Eramandiri Tbk (GUNA) officially took the floor on the Indonesia Stock Exchange (IDX) on Tuesday, July 9, 2024.

At the time of its initial recording, GUNA almost touched the Upper Auto Reject (ARA) to the level of IDR 202 per share.

Based on data from the Indonesia Stock Exchange at 09.02 WIB, GUNA shares rose 34.67 percent to IDR 202 per share from IPO, which was IDR 150 per share.

A total of 15.47 million shares have been transacted in 1,612 transactions with a total value of Rp3.12 billion. Market capitalization was also recorded at Rp505 billion.

GUNA offered 500 million new shares so that it managed to obtain fresh funds of Rp75 billion.

In addition, in the public offering, GUNA shares experienced an oversubscribed 26.7 times.

President Director of PT Gunanusa Eramandiri Tbk (GUNA) Ivan Cokro Saputra said that today the company managed to achieve a new milestone through an IPO which is a strategic corporate action.

"Through this IPO, we want to always have a positive impact, we want to consistently maximize services in the manufacturing and trade of food products and nuts in Indonesia considering that we are one of the industry's Leading Company in the country and in ASEAN," he said at the listing ceremony. GUNA in Jakarta, Tuesday, July 9.

Ivan said that this IPO is the opening gate so that it can optimize market opportunities that grow fast, especially to complement the needs of business actors and the community to be more effective and efficient.

He conveyed that all funds obtained from the Initial Public Offering of Shares, after deducting all emission costs, will be used by the company for the company's working capital (operational expenditure), such as for financing the company's operational needs, among others for the purchase of almonds and peanuts raw materials.

According to Ivan, the funds from this Public Offering were to buy raw materials for almonds and peanuts, both of which were the company's main raw materials.

On the other hand, the almond harvest only occurs once a year, namely from August to October, so that at that time the price of almonds reached its lowest price.

Likewise, the big harvest of peanuts only occurs twice a year where the first harvest occurs in February and and the second major harvest occurs in September and October.

"This event is good because launching a company whose production is made from within the country and the sector is Agriculture, so the product is an IPO that processes downstreaming from agriculture," said Coordinating Minister for Economic Affairs Airlangga Hartarto in a listing ceremony. GUNA in Jakarta, Tuesday, July 9.

Airlangga added that the company with the IPO today made export sales of around 25 percent of its total production and relied on the strength of domestic consumption of 75 percent.

"In my opinion, this is a model from a company that is good and has strong durability, especially since the sector is non-cyclical, so there is no cycle," he said.

He said that his arrival today in the IPO was an encouragement for investors to continue investing.

He asked capital market players not to wait and see alias to wait for political stability to invest in Indonesia.

The reason is, the transition to government is ensured to run smoothly and smoothly.

"Bursa doesn't need to wait and see, just gaspol. Earlier, Mr. Irfan said the exchange is now net inflow. So that's important because yesterday it was net outflow but it has returned to what we call the green zone. That's it," he said.