The Jakarta Post
Investment company PT Capital Financial Indonesia has concluded its debut trading day with a 69.23 percent increase in its share price to Rp 220 (20 US cents) per unit, sharing a Rp 90 gain per stock to shareholders.
According to Indonesia Stock Exchange (IDX) data, CASA-coded stock recorded the increase in the first session after their initial listing, and remained unchanged until the close of trading on Tuesday.
The company pocketed Rp 715 billion from the initial public offering (IPO) after issuing 5.5 million new shares in the corporate action, equaling 47.61 percent of the company’s paid-up capital.
The company’s president director Hengky Setiono said 92 percent of the proceeds had been allocated to increase the paid-up capital of PT Capital Life Indonesia, the firm’s life insurance subsidiary.
“Around 7.45 percent of the money is for building a sharia insurance company, while the rest of it will be registered as the parent company’s working capital,” he added in Jakarta after the listing ceremony.
Affiliated-broker PT Sinarmas Sekuritas was the underwriter of the IPO, offering the shares at Rp 130 per unit. (vny)
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