Shares price of Salim family-owned bakery products maker PT Nippon Indosari Corpindo Tbk (ROTI) today jumps 16.87% during its first debut in the stock market.
Nippon Indosari's shares rises to Rp1,490 per share from the IPO price of Rp1,275 per share. Based on data from Indonesia Stock Exchange, the shares has reached the highest price at Rp1,640 and the lowest level at Rp1,400. Investors make transaction value of 51,07 million shares valued of Rp78.05 billion.
Indonesian tycoon Anthony Salim controls 40% stakes in Nippon Indosari via Treasure East Investments. ROTI has offered 151.85 million of shares or 15% stakes during the IPO.
Nippon Indosari plans to use 75% of the IPO proceed to support financing of new factory in Medan and Semarang and the remaining will be utilized to pay loan of Rp65 billion to Bank Central Asia.
Post IPO, Nippon Indosari will be controlled by Bonlight Investments Ltd of 34%, Treasure East Investments Ltd of 35%, Sojitz Corporation and Shikishima Baking Co Ltd own 8.5% respectively and public holders own 15%.
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