Nov 11, 2010

Agung Podomoro soars 31.5% on debut

The stock price of PT Agung Podomoro Land Tbk in its initial trading today opened at the level of Rp480 or rose 31.5% from its offering price of Rp365.
The shares moved within a range of Rp450-Rp500.
The company engaged in integrated property business offered 6.15 billion share or equal to 30% of the public shareholding.
President Director of Indonesia Stock Exchange (IDX) Ito Warsito said the presence of Agung Podomoro expected to bring a new excitement to the market.
"Of course after the listing, Agung Podomoro can apply the principles of good corporate governance," he said amidst his speech in Agung Podomoro stock listing, today.
Through this public offering, the company will reap fresh funds amounting Rp2.24 trillion with a market capitalization reached Rp7.48 trillion.
Acting as underwriters for the public offering, including PT Mandiri Sekuritas and PT Indo Premier Securities.
As the 414th member of the stock exchange, Agung Podomoro shares added the number of outstanding shares in the stock until this year as much as 1.8 billion shares with a market capitalization reached Rp3.228 trillion. 

Disclosure: No position at the stock mentioned above.
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