Jan 13, 2011

Martina Berto up 4% to Rp800 on debut

Cosmetic maker PT Martina Berto Tbk today surged 4% to Rp800 per share from the initial price at Rp740 during the trading debut.
Martina Berto stocks moved at the range of Rp670-Rp800 per share.
Eddy Sugito, Director of Indonesia Stock Exchange, said the trading debut of Martina Berto hopefully can enrich stock alternative for investors.
"We hope that Martina Berto could be a blue chip stock in the domestik market," he said.
Martina Berto is the second newly listed companies this year at Indonesia Stock Exchange. During the IPO, the company bagged Rp262.70 billion proceed with a market capitalization of Rp791.80 billion. PT Trimegah Securities was the lead underwriter for the IPO.

Disclosure: No position at the stock mentioned above. 

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