Oversubscribed, CUAN’s Initial Public Offering Received Positive Responses

Jakarta, 7 March 2023

Ahead of its Initial Public Offering D-day, PT Petrindo Jaya Kreasi Tbk (CUAN) recorded an oversubscribed for its shares by 48.85 times based on the pooling version. This positive response from the capital market shows optimism and confidence from the public in the domestic mining business, which is increasingly showing good growth trends. 

The Company is carrying out its first corporate action to obtain maximum funding of Rp 371.8 billion, which will be used by its subsidiary, PT Tamtama Perkasa, to build an intermediate stockpile (ISP) and its supporting infrastructure, as well as additional working capital to support mining operations. It is planned that CUAN’s Board of Commissioners and Board of Directors will hold an initial public listing ceremony on the Indonesia Stock Exchange on 8 March 2023.