JAKARTA. The stock price of PT Wahana Interfood Tbk (COCO) has soared to Rp 336 per share after its IPO at the Indonesia Stock Exchange (IDX).
COCO CEO Reinald Siswanto said the company will use the IPO proceeds to resume its long term plans. "We have great expectations that we can develop an even bigger business," said Mr Siswanto as quoted by Kontan.co.id, Wednesday (20/3).
COCO released 168 million shares or 33.07% of the company's placed and paid-up capital in today's IPO with an initial selling price of Rp 198 per share. Thus, COCO has pocketed IPO proceeds of Rp 33.64 billion.
Based on information gathered by IDNFinancials.com, COCO's two biggest shareholders are PT Inter Jaya Corpora with a 49.53% stake and PT Granali Budi Berjaya with 17.40%, while the remaining 33.07% is owned by the public. (KR/MS)