PGE Officials On The Exchange With PGEO's Share Code

PT Pertamina Geothermal Energy Tbk is officially listed on the Indonesia Stock Exchange (IDX) with the ticker code PGEO. (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Pertamina Geothermal Energy Tbk officially listed its shares for trading on the Main Market of the Indonesia Stock Exchange (IDX) with the ticker code PGEO.

PGEO set the IPO price of IDR 875 per share.

In its initial stock trading, PGEO's shares rose to the level of IDR 925 and touched the lowest price at the level of IDR 815.

The company offered to the public 10,350,000,000 ordinary shares in the name, representing 25 percent of the Company's issued and paid-up capital and offered at a Offer Price of IDR 875 per share.

The company has carried out a public offering since 2022 February 2023 and has won Rp9,056,250,000,000.

The company also allocates a maximum of 1.50 percent of the issued and fully paid capital after the Initial Public Offering or a total of 630,398,000 shares for the Share Purchase Opportunities Program to Company Management and Employees (MESOP).

"Getting funds will be used to contribute and grow geothermal energy installed capacity and position PGE as various leaders of geothermal resource development," said President Director of PT Pertamina Geothermal Energy Tbk. Ahmad Yuniarto in his remarks on the Indonesia Stock Exchange, Friday, February 24.

The company targets to increase its self-operated installed capacity base, from 672MW to 1,272MW by 2027.

Just so you know, the Company's IPO public offering experienced an oversubscribed request of up to 3.81 times from the pooling portion, exceeding the previously set target.