Propety developer PT Metropolitan Land Tbk (Metland) will list its shares at Indonesia Stock Exchange (IDX), despite bearish trend. Metland obtained a 12.64 folds oversubscribe during pooling period of June 13-June 15.
Vice Director Corporate Affairs dan Corporate Secretary Olivia Surodjo said about 62.5% of the IPO or 1.89 billion new shares have been purchased by foreign investors and 14.25% have been bought by domestic investors and retail investors.
The oversubscribe shows demand from foreign investors," she said in a press statement today.
PT Danareksa Sekuritas and PT Nikko Securities Indonesia are the IPO lead underwriters. Metland has set the IPO price at Rp249 per share.
Disclosure: No position at the stock mentioned above.
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