KONTAN.CO.ID - JAKARTA.PT Harta Djaya Karya Tbk (MEJA) is eyeing a new project worth IDR 200 billion in 2024.

MEJA officially debuted on the Indonesia Stock Exchange (IDX) today (12/2). MEJA became the 14th issuer listed on the IDX in 2024.

In its inaugural trading session, until 09:01 WIB, MEJA shares rose by 9.7% to a price of Rp 113 per share. However, by 09:01 WIB, MEJA's stock price had fallen by 5.83% to IDR  97 per share.

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This exterior and interior decoration company offered a total of 480 million shares in its initial public offering (IPO) at a public offering price of IDR 103 per share. The number of shares is equivalent to 25.03% of the issued capital after the IPO.

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As a result, MEJA successfully raised fresh funds of IDR  49.44 billion. Acting as underwriters for the issuance are MNC Sekuritas and Erdikha Elit Sekuritas.

MEJA's President Director, Richie Adrian Hartanto, stated that the company has several large clients, such as Bank Mandiri (BMRI), Bank BJB (BJBR), Traveloka, and Goodyear.

For projects at Bank Mandiri, they are carried out in two locations, namely Palembang and Semarang. Furthermore, there are projects with the Asian Development Bank and the Ministry of Education and Culture.

"The ongoing projects this year are around IDR 18 billion. Meanwhile, projects are being pitched worth around IDR 200 billion," he said after the MEJA IPO on Monday (12/2).

According to the prospectus, MEJA has been involved in construction as a building contractor, interior design consulting services, and furniture trading since 2012.

MEJA's development began when it was given the opportunity to become a vendor in various institutions such as the Jakarta Regional People's Representative Council (DPRD), the Indonesian National Police, and the Ministry of Trade.

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In 2021, the company was selected as one of the contractors for the Taman Ismail Marzuki Revitalization Project. Meanwhile, the following year, the company obtained interior work projects for the state-owned enterprises Bank Mandiri and PT Adhi Karya (Persero) Tbk (ADHI).

To date, the company has focused on three business segments: design consultancy, interior construction execution, and furniture fabrication.

Editor: Syamsul Azhar