Officially listed on the Indonesia Stock Exchange (IDX), PT Harapan Duta Pertiwi Tbk (HOPE) shot up 34.75% to a price of Rp159 per share.

The price for the initial public offering (IPO) of HOPE shares is at Rp 118 per share. Thus, the shares are subject to auto rejection upon (ARA).

Based on stock exchange regulations, the limit for the increase in shares with a reference price of Rp50 to Rp200 is 35%.

In the initial public offering or IPO, HOPE released 851.66 million shares to the public. This amount is about 40% of the issued and fully paid capital.

The offering price is pegged at Rp118 per share so that the funds raised through the IPO process reached Rp. 100.49 billion.

HOPE collaborated with PT Danatama Makmur Sekuritas and PT Yuanta Sekuritas Indonesia as lead underwriters or underwriters in the bidding process. The public's enthusiasm for HOPE shares is reflected in being oversubscribed more than 100 times when the public