Dec 13, 2010

Bank Sinar Mas rises 20% on debut

The share prices of PT Bank Sinarmas Tbk were opened up 20% to Rp180 from the offering price at Rp150.
In the first trading today, the shares of Bank Sinarmas moved within the range of Rp180-Rp250.
The BSIM-coded shares are listed as the 22th company holding initial public offering (IPO) this year.
Referring the offering price, Sinarmas is estimated to raise Rp240 billion from releasing 1.6 billion shares. Meanwhile, its market capitalization value is expected to be Rp1.08 trillion. PT Sinarmas Sekuritas acted as the IPO’s underwriter.

Disclosure: No position at the stock mentioned above.  

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