Shares of ceramic producer Cahayaputra Asa Keramik (CAKK) lost 32% to Rp114 per share at its trading debut today. It listed 1.2 billion shares, with IPO price of Rp168 per unit, starting trading with market capitalization of Rp202 billion. The Company offered 300 million shares, representing 24.93% of its total issued and paid-up capital, through initial public offering (IPO), raising Rp50.4 billion fund. CAKK also issued warrants priced at Rp150-220 per unit, the proceeds to support its working capital. The Company targets to book revenue of Rp260 billion and net profit of Rp15 billion for this year. It allocates capex of Rp18 billion for this year.
