PT Solusi Tunas Pratama Tbk, a telecommunication tower provider, today is stable at Rp3,400 during its debut at Indonesia Stock Exchange. The secondary price reached Rp3,750 a share, or 11% increase during the initial trading.
Solusi Pratama is the 17th publicly listed companies this year. During the IPO, the tower provider secured Rp340 billion by selling 100 million shares of 16.7% of its enlarged capital. PT Ciptadana Securities is the IPO underwriter. About 50% of the proceed will be used to expand business, including take over purposes.
Disclosure: No position at the stock mentioned above.
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