JAKARTA - The stock price of PT Bliss Properti Indonesia Tbk (POSA) jumped 69.33% to Rp 254 per share on its first day of trading on Friday (10/5). The stock’s initial public offering (IPO) price was set at Rp 150 per share.
As reported by Bisnis.com, on the opening of the first listing POSA stock was traded with frequency of 539 times and a volume of 7,091 shares with a value of Rp 179.35 million. In the IPO, POSA released 1.7 billion shares or 20.26% of the company’s placed and paid-up capital.
POSA said it would use 79% of its IPO proceeds as working capital for the company and its subsidiaries, while the remaining 21% would be used as capital expenditure (capex). The capex will be used to complete the Jambi City Center project and renovate Lombok City Center. (MS)