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Jakarta Post
The Jakarta Post
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Economy in brief: Adi Sarana Armada gains Rp 530b from IPO

  • The Jakarta Post

| Tue, November 13 2012 | 11:10 am

PREMIUM JAKARTA: Car rental company PT Adi Sarana Armada raised Rp 530.4 billion (US$55.05 million) from sales of its shares through an initial public offering (IPO). The shares were listed on the Indonesia Stock Exchange (IDX) on Monday.

The company sold 40 percent, or 1.36 billion, of its enlarged shares to the public at Rp 390 apiece. The price rose 17.9 percent to Rp 460 per share during Adi Sa...