Jul 10, 2011

Solusi Pratama to hold 17% IPO

PT Solusi Tunas Pratama aims to hold an initial public offering (IPO) of 17% stake by end of September or early October this year.
Solusi Pratama, a telecommunication tower operator, has mandated PT Ciptadana Securities as the IPO lead underwriter.
"Solusi Pratama plans to offload 17% stake or 100 million shares to the public," said Director Eddy Sugito at Indonesia Stock Exchange (IDX) last week.
On Friday, PT Tifa Finance Tbk had listed shares at IDX as the 11th public listed companies this year. Tifa Finance offloaded 278 million shares or 25.75% stake to the public.
During the trading debut, Tifa Finance reached the highest price at Rp340 and the lowest at Rp210. The stocks were closed at Rp310, providing a 55% gain to public investors.

Disclosure: No position at the stock mentioned above.

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