Initial Public Offering
On July 16, 2008, 31,985,962,000 shares in AE were publicly listed on the Indonesian Stock Exchange (IDX), with ticker code ADRO. Thirty five percent of those (11,139,331,000 shares) marketed in an Initial Public Offering (IPO). The IPO raised Rp12.2 trillion, the largest IPO in the history of the IDX until now. The net proceeds from the IPO were spent as of May 29, 2009 and was reported to the shareholders during the AGMS on June 3, 2009.
ADRO in 2017
In 2017, ADRO recorded strong performance on the back of stron-ger global coal prices. It opened at Rp1,740 on 1st January 2017, and closed at Rp1,860 on 31st December 2017. ADRO hit its highest price of Rp1,965 on 24th August 2017 and its lowest price of Rp1,410 on 17th May 2017. In 2017, the average trading volume was 33.5 million, with average daily turnover and market capitalization of US$4.4 million and US$4.4 billion, respectively.
As of the end of 2017, the total composition of domestic and foreign public shareholders was 29.5% and 70.5%, respectively. AE’s BOC and BOD owned 3,915,354,855 shares or 12.24% of the total shares outstanding, while at the end of 2016, the company’s BoD and BoC shareholding constituted 13.32% or 4,263,235,248 shares, as their ownership in 2016 included the portion owned by the late Ir. Subianto, a former BoC member. In addition, a current member of BOC, Ir. Theodore Permadi Rachmat, added his ownership by 0.28%, while two BOD members, David Tendian and Chia Ah Hoo, decreased their ownership by 0.02% and 0.01%, respectively.
In 2017, ADRO’s performance overall moved in parallel with the market fundamentals and the JCI’s performance. While fluctuations were inevitable during the year, ADRO’s movements were also parallel with AE’s earnings, which were on the rise from Q1 to Q4. ADRO maintained the average Beta of 1-1.1x, making it less volatile than the index.