Apr 6, 2011

Mitrabahtera soars 11.25% on IPO debut

Coal tug boat and barge operator PT Mitrabahtera Segara Sejati Tbk (MBSS) surged 11.25% to Rp1,790 from Rp1,600 a share in today’s opening session.
The share price moved within the range of Rp1,700-Rp1800 a share with total transaction by 215 times and total value by Rp11 billion.
The company had listed by 1,75 billion shares consisting of the founders’ shares by 1.531 billion shares, shares from convertible loan execution by 43.76 million shares, and public share by 170 million shares. Meanwhile, PT OSK Nusadana Indonesia and PT Mandiri Sekuritas acted as underwriters of the 422th listed company.
As explained by Director of PT OSK Nusadana Securities Indonesia Mardi Sutanto, the initial share price of MBSS stays at Rp1,600 per share which attract quite high interest of prospective investors.
In the IPO, Mitrabahtera offered the initial share price within of Rp1,500-Rp1,900 by releasing 215 million shares or 12.3% to public. In the meantime, the company will organize a roadshow to Jakarta and Singapore. 
A period for bookbuilding had been realized on March 1-15 2011, while the final offering price was on March 15 2011. Then, a period of general offer had been scheduled on March 25-29 2011 and the IPO is expected to be listed on April 2, 2011. 

Disclosure: No position at the stock mentioned above.

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