PT Koka Indonesia Tbk (Koka) will be listed on the stock exchange as a new issuer in the infrastructure contractor sector. This was achieved after Koka signed a contract worth IDR 81 billion.
The contract was used by PT Koka Indonesia to build infrastructure related to electric vehicle (EV) batteries which was carried out with PT Chengtok Lithium Indonesia at the Indonesia Morowali Industrial Park (IMIP) in Morowali, Central Sulawesi.
According to PT Koka Indonesia's Director of Finance and Operations, Michael Albert, this project, which will take five months, can strengthen the company's position as a contractor for Chengtok Lithium Indonesia.
"Obtaining this contract will strengthen Koka's position as the main contractor for PT Chengtok Lithium Indonesia, while also having a positive impact on Koka's income and finances," said Michael, as reported by Kontan.co.id, on Wednesday (4/10/2023).
It is known that in supporting the EV battery manufacturing project, PT Koka has collaborated with Chengtok since 2021. If the EV infrastructure building project by PT Koka runs according to the expected time, the company will continue cooperation with PT Chengtok for a similar project. However, the auction for the project has just been announced at IDR 50 billion.
This company is predicted to receive six new contracts by the end of 2023. Most of these contracts will come from the mining manufacturing sector.
From these six contracts, PT Koka is optimistic that it can record revenue growth of 40 percent from the previous year until the end of 2023. In addition, net profit growth is estimated to be much greater than this figure.
For other information, so far PT Koka Indonesia has set the share price for the initial public offering ( IPO), namely IDR 128 per share, by releasing 715.33 million shares or the equivalent of 25 percent of the capital issued to the public. The plan is that this company will be listed on the Indonesian Stock Exchange (BEI) on October 11 2023.
Image source: koka.co.id
Source: www.sampaijauh.com/PT Koka Indonesia Bangun Infrastruktur EV Di Morowali
