Shares of Satria Antaran Prima (SAPX) jumped 49.6% to Rp374 in its trading debut today. Its IPO price was Rp250, started trading with market capitalization of Rp208.3 billion. SAPX offered 433.3 million shares through the initial public offering (IPO) and listed 833.3 million shares on the Indonesia Stock Exchange (IDX). The Company raised Rp108.3 billion fund from IPO, used to paying convertible bonds (62%) and for working capital (37.9%).
SAPX suffered loss of Rp1.6 billion in first quarter (Q1) of 2018 on revenues of Rp48.2 billion. In 2017, it suffered loss of Rp17.2 billion on revenues of Rp148.16 billion. Its assets reached Rp56 billion and liability amounted Rp47.3 billion. SAPX engages in courier service, freight forwarding and warehousing, transportation and handling, printing services, agency and outsourcing.