Invaded By Investors, Adhi Commuter Share Offering With Code ADCP Oversubscribed Up To 14.4 Times

Illustration. (Photo: Doc. Antara)

JAKARTA - The shares of PT Adhi Commuter Properti Tbk were invaded by investors. As a result, the shares with the ADCP code were oversubscribed up to 14.4 times on the first day of the public offering which was held on Wednesday, February 16.

Corporate Secretary of Adhi Commuter Adi Sampurno said that the amount of oversubscribed was the result of a centralized allotment (pooling) collected on the first day of the public offering. This figure is expected to continue to grow considering that the public offering process will continue until February 21, 2022.

According to Adi, the interest in ADCP shares cannot be separated from the prospect of business fundamentals and optimism for the enormous support from its parent company, PT Adhi Karya (Persero) Tbk (ADHI).

"We continue to strive to accelerate various projects according to the plan to ensure that the company's business fundamentals are getting stronger," Adi said in a statement quoted by Antara, Thursday, February 17.

So far, ADCP's IPO has just completed several final stages before officially listing its shares on the Indonesia Stock Exchange (IDX). After obtaining a statement effective on February 15, 2022, Adhi Commuter entered the stages of public offering (16-21 February 2022), allotment (21 February 2022), and initial listing of shares on the Indonesia Stock Exchange on 23 February 2022.

Along with the IPO, Adhi Commuter also held a Management and Employee Stock Option Program (MESOP) for a maximum of 2 percent of the total paid-up capital. The program is a form of appreciation for the achievement of employee performance.

Currently, the company has a portfolio of 12 projects, some of which have been completed and have been marketed and even managed to record excess sales, such as studio type residences for LRT City Bekasi - Eastern Green and Green Avenue, as well as the Bhumi Anvaya Adhi City Sentul Cluster.

This year the company also plans to hand over the Saphire Cisauk Point tower - Member of LRT City, Bandoneon tower - LRT City Jatibening, Azure tower - LRT City Ciracas, Cluster Bhumi Svarga Adhi City Sentul.