PT Koka Indonesia Tbk, a company engaged in general contracting for construction
projects, mechanical engineering, geotechnical engineering, interior design and
furniture, today has officially listed its shares for trading on the Indonesian Stock
Exchange with the stock code “KOKA”. The number of shares released in this Initial
Public Offering is 715,333,000 new shares representing 25% of the Company’s paid-up
and issued capital, at a price of IDR 128 per share. In this way, Koka will obtain funds of
IDR 91.5 billion with a market capitalization of IDR 366 billion.
About 17% of the funds raised from the Public Offering will be used for capital
expenditures including the procurement of new heavy equipment, and the remaining
83% will be used for working capital including payments for construction raw materials,
shipping logistics costs, operational costs at the project site and administration costs.
arising in the project. PT Koka Indonesia Tbk has appointed UOB Kay Hian Sekuritas
and KGI Sekuritas as underwriters.
The Company’s performance after the Covid-19 pandemic has consistently grown,
where in 2022, the Company managed to record revenues of IDR 183 billion, an
increase of around 131% from the 2021 achievement of IDR 140 billion. The company
was also able to record a net profit of IDR 19 billion during 2022, growing 75% from the
achievement in 2021.
In the future, the Company targets to continue to improve its performance positively,
where in 2023, the Company targets revenue of around IDR 260 billion, an increase of
around 45% from the achievement in 2022. Meanwhile, for net profit, the Company
targets achieving a net profit of around IDR 45 billion or grow up to 135% from the
achievement in 2022.
In line with the growth prospects of the Company and the national construction industry,
Daud Gunawan, Head of Corporate Finance at PT UOB Kay Hian Sekuritas, who is the
Managing Underwriter stated that the response from investors during the Company’s
Public Offering period was very good. “Incoming requests exceeded the number of
shares offered, where demand for KOKA shares was oversubscribed 134.24x,” said
Daud.
