Jakarta. Esta Indonesia has become the first swiftlet nest company to be listed on the Indonesia Stock Exchange (IDX). Trading under the ticker symbol NEST, the company executed an initial public offering (IPO) of 822.5 million shares, representing 20 percent of its capital post-IPO.

The IPO signifies a major milestone for Esta Indonesia, which began as a modest family-operated business and has since evolved into a key player in the swiftlet nest industry.

Hoo Anton Siswanto, CEO and founder of Esta Indonesia, reflected on the company’s remarkable journey from its humble origins to becoming a publicly traded entity.

“Watching our company transition from a small home-based venture to a prominent IDX listing feels like a miracle,” Hoo remarked during the IPO ceremony on Thursday. “After nearly 30 years of dedication—starting from a garage with just a few employees and growing to export 30 tons of swiftlet nests last year—this achievement showcases our significant growth and perseverance.”

The IPO has successfully raised Rp 164.5 billion, with shares priced at Rp 200 each. The funds will be allocated for the acquisition of six new swiftlet houses in Poso, Central Sulawesi, investments in subsidiary entities, and operational expenses.

“This milestone not only sets NEST apart as a pioneer in the swiftlet nest industry but also challenges the perception of this sector as merely small-scale,” Hoo added. “We are excited to lead the way for other swiftlet companies and aim for NEST to become a market leader, creating value for all our stakeholders.”

By mid-day trading, NEST shares were priced at Rp 260, reflecting a 30 percent increase from their opening price.

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