Officially listed on the Indonesia Stock Exchange (IDX), PT Widodo Makmur Unggas Tbk will become the sixth listed company in 2021. The share price rose by 15.56 percent to a price of Rp208 per share in its trading debut today, on Tuesday (2/2). 

The public company, which is engaged in integrated chicken farming, listed shares with the code WMUU.

At the initial public offering (IPO), Widodo Makmur set the IPO share price at Rp180 per share. The proportion of investors that absorb is 69.5 percent of institutional investors and 30.5 percent of retail.

"This step is a gateway to a more dynamic market. Although the stock market conditions are still challenging in the midst of the COVID-19 pandemic, "said Widodo Makmur, President Director, Ali Mas'adi, in Jakarta.

In line with the market dominated by retail players, there is currently a need for adequate retail allocation and to maintain liquidity in the secondary market. WMUU shares oversubscribed four times during the public offering period.

Acting as joint lead underwriters, namely PT CIMB Niaga Sekuritas, PT BRI Danareksa Sekuritas, and PT Samuel Sekuritas Indonesia.

Widodo Makmur is trying to keep investor interest in the secondary market for the better by reducing the total shares released to the public or free float from 35 percent to 15 percent of the issued and fully paid capital after the IPO.