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Jakarta Post

Era Mandiri, Agro Yasa make strong debut on local stock market

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Thu, February 13, 2020   /  12:10 pm
The Jakarta Post Image
The assessment director of the Indonesian Stock Exchange (IDX),I Gede Nyoman Yetna (middle) officially inaugurates the listing of PT Era Mandiri Cemerlang Tbk (IKAN) and PT Agro Yasa Lestari Tbk on Wednesday.(JP/ydp)

Fishery products producer PT Era Mandiri Cemerlang Tbk and asphalt, geosynthetic and soya beans meal manufacturer PT Agro Yasa Lestari Tbk made a strong debut on the Indonesian Stock Exchange (IDX) on Wednesday with share prices rising more than 70 percent. The share price of PT Era Mandiri  (IKAN) rose sharply to Rp 204 (1.5 US cents) per share, a 70 percent increase from Rp 120 during the initial public offering (IPO) just a few minutes after trading started. PT Agro Yasa (AYLS) also received a warm welcome when it debuted on the local stock exchange. Its share price also rose by 70 percent in the morning trading session to Rp 170 per share from its IPO price of Rp 100 per share. However, trading of the two companies’ shares was temporarily suspended as the increase in their prices exceeded the allowable increase limit for a single-day transaction as regulated in th...