JAKARTA, RAKYAT NEWS – PT Petrosea Tbk (PTRO), a prominent player in mining and integrated EPC (engineering, procurement, and construction) services, has officially listed its 2024 first-stage Continuous Bond I and Sukuk Ijarah Continuous I on the Indonesia Stock Exchange (IDX).

This move is part of the company’s strategic effort to raise IDR 1.5 trillion in capital.

Kartika Hendrawan, Chief Investment Officer of PTRO, revealed that the total amount raised includes IDR 1 trillion from the issuance of the continuous bonds and IDR 500 billion from the Sukuk Ijarah.

The funds are aimed at bolstering working capital, which will help Petrosea fulfill its existing contracts in both the mining and integrated EPC sectors.

“The capital will play a crucial role in strengthening our financial position, enabling us to execute and meet the demands of the contracts we have secured in the mining and EPC business lines,” Kartika said at the listing ceremony held at the IDX building in Jakarta on Monday, December 16, 2024.

This issuance is part of PTRO’s larger fundraising program, which aims to raise up to IDR 2 trillion through bonds and IDR 1 trillion through Sukuk Ijarah. The funds raised will help the company expand its operations and continue executing its long-term strategy.

As part of its preparation for the bond and Sukuk issuance, Petrosea had previously received corporate ratings of “idA+” (Single A Plus; Stable Outlook) and “idA+(sy)” (Single A Plus Syariah) from PT Pemeringkat Efek Indonesia (PEFINDO). These ratings reflect the company’s financial stability based on audited reports as of June 30, 2024, and December 31, 2023.

Petrosea’s strategic fundraising move comes at a time when investor interest in its shares has been growing. Following the news of the capital raise, PTRO’s stock price surged 1.76%, reaching IDR 25,950 by 09:30 WIB. This surge increased the company’s market capitalization to IDR 26.17 trillion, further highlighting the positive market sentiment.

The bond and Sukuk issuance are expected to further strengthen Petrosea’s position in Indonesia’s competitive mining and EPC markets. By leveraging these financial instruments, the company aims to expand its business capacity and improve its operational efficiency.

Investors and industry analysts will continue to monitor how the additional capital raised through the bond and Sukuk issuance will impact Petrosea’s performance in the coming months, particularly with the company’s focus on sustaining its contract obligations and future growth initiatives. (Uki Ruknuddin)