Raharja Energi Cepu (RATU) Makes Historic Debut on IDX

PT Raharja Energi Cepu Tbk (RATU), an energy company specializing in oil and gas production and refining, made its debut on the Indonesia Stock Exchange (IDX) on January 8, 2025. The company's initial public offering (IPO) was a massive success, recording an oversubscription rate of 313.15 times, one of the highest in IDX history.

RATU listed its shares on IDX's development board, becoming the third company to be listed in 2025. With an offering price of Rp 1,150 per share, the company issued a total of 2,715,053,800 shares, achieving a market capitalization of Rp 3.12 trillion.

Record-Breaking Oversubscription

The IPO attracted 136,680 investors, with 139,899 retail and 6,291 non-retail investors placing orders. This overwhelming demand highlights the strong market confidence in RATU's growth potential within Indonesia's energy sector. The IPO’s oversubscription rate was second only to PT Daaz Bara Lestari Tbk (DAAZ), making it a historic achievement for the Indonesian capital market.

Henan Putihrai and Sucor Sekuritas acted as lead underwriters for the IPO. Henan Putihrai, known for its role in high-profile IPOs like PT Petrindo Jaya Kreasi Tbk (CUAN) and PT Daaz Bara Lestari Tbk (DAAZ), played a pivotal role in securing this milestone for RATU.

An Instagram post by Henan Sekuritas celebrated the IPO's success, stating, “This is the second time in IDX history that an oversubscription rate exceeding 300x has been recorded.”

Energy Sector Outlook

As a new player in Indonesia's oil and gas production and refining industry, RATU's entry into the public market underscores the increasing importance of the energy sector in the country's economic development. The funds raised through the IPO are expected to bolster RATU's operations, allowing the company to expand its capacity and contribute to Indonesia’s growing energy demands.

The strong investor interest reflects optimism for the energy sector, with many seeing it as a critical area for growth and sustainability in the Indonesian economy. RATU's market debut aligns with the government's focus on enhancing domestic energy production to reduce reliance on imports and ensure energy security.

Future Prospects

RATU's successful IPO positions it as a significant player in the energy industry, providing the company with the financial foundation to pursue ambitious projects. The high level of investor confidence signals robust future demand for its shares, setting the stage for potential growth in both domestic and regional markets.

As RATU begins its journey as a publicly traded company, the market will closely watch its next moves, particularly its strategies to sustain growth and meet investor expectations.

Raharja Energi Cepu’s remarkable debut not only strengthens its position in the energy sector but also serves as a testament to the resilience and potential of Indonesia's capital markets.