Heaptalk, Jakarta — PT Cilacap Samudera Fishing Industry Tbk (ASHA) has officially listed its shares on the Indonesia Stock Exchange (IDX) (5/27). Embark its debut on IDX, the Company’s share ramped up by 35% and hit the auto rejection upper limit, increasing the stake prices to Rp135 per share.
Previously, after completing the IPO period with an offering price of Rp100 per stock, ASHA encountered an oversubscribed with a total offering worth US$82 million (approximately Rp.1,2 billion). The investors’ offering was fiftyfold of the first stipulated pooling allotment, namely Rp20 billion, or surpasses its offering tenfold from the total emission value of Rp125 billion. The valuation collected came from 31,361 investors entailed in this IPO.
During its trading period, this fishery company’s stock value significantly increased by 35%, Which automatically touched Auto Rejection Upper Limit (ARA) level into Rp135 per share. However, the value movement faced fluctuation, which influenced its trade range of Rp110 – Rp120 per share after a few minutes of its listing moment.
The company aims to handle the IPO funds to acquire a processing enterprise to widen the source and market reach and reinforce its business elements in the fishery industry. While the rest of this capital, ASHA will manage the funds for its long-term operations.
In response to the company’s public offering, The President Director of ASHA, William Sutioso, uttered, “The Initial Public Offering is a proper stride for the company to keep its existence and work professionally. With the company listed, we can unlock numerous chances for fishermen to work together in achieving a sustainable economy for Indonesian fishermen,”
Moreover, the COVID-19 pandemic, which is estimated to switch into an endemic, will undoubtedly influence seafood demands to become normal and even tends to increase. Perceiving a market rebound due to the COVID-19 era, ASHA will maximize the fresh capital to collect revenue and create company profits sooner.
William also claimed that this Indonesia-based fishery enterprise would expand its fishery sector by amplifying the infrastructure of cold chain logistics throughout Indonesia and adopting Indonesia’s advanced technology to penetrate the aquaculture sector.
The company will also focus on developing data-based technology to predict all aspects of the fishing industry in Indonesia. This move is expected to build more excellent opportunities with trusted data. The support of modern technology is believed to boost business around the upstream sector, with a high-risk, high return factor.
Attending the ASHA’s IPO ceremonial, the representative of Indonesia’s Coordinating Ministry for Maritime Affairs and Investment, Mielyon Detty, voiced his statement, “We recognize the current condition of Indonesia’s fishing industry. As a part of the capture fisheries sector, we are greatly enthusiastic about espousing this investment comfortably. We look forward to working together with ASHA in bolstering a capture fishery field to deliver well-served for Indonesian fishermen,”
The fisheries industry in Indonesia has tremendous capabilities. With its strong optimism, ASHA expects to be a role model in this sector. With a founder who has 40 years experiences in the fisheries sector, the company is predicted to keep its long-term sustainability for capture operations with strict screening implementation, aligned with Indonesia’s government regulation.
