Asuransi Lippo offers shares<\/p>\n
JAKARTA (JP): PT Asuransi Lippo (Lippo General Insurance) of
\nthe widely diversified Lippo Group made a successful capital
\nmarket debut when it floated its shares on the Jakarta Stock
\nExchange yesterday.<\/p>\n
The demand for the company shares was high and the company's
\nshare price booked a gain of Rp 525 to Rp 2,750 in the morning
\nsession, dealers said.<\/p>\n
The company's share trading was so intense that 20 million
\nshares or 40 percent of the total number of shares offered
\nchanged hand during the first session, they said.<\/p>\n
The price of the company's shares rose Rp 475 higher in the
\nafternoon session to close at Rp 2,700, with 26.23 million shares
\nchanging hand in the regular market.<\/p>\n
The company's initial public offering (IPO), which was
\nlaunched earlier this month, attracted local and foreign
\ninvestors.<\/p>\n
Some analysts predicted that investors' high enthusiasm would
\ncontinue in the coming months given the positive sentiment during
\nthe IPO.<\/p>\n
A senior analyst of Vickers Ballas in Singapore, Fu Ya Yin
\nsaid Asuransi Lippo shares attracted investors because the
\ncompany had a promising future.<\/p>\n
Its access to distribution channels of the Lippo Group which
\nis known for its aggressiveness and innovation would allow the
\ninsurance company to benefit the country's growing insurance
\nindustry, she said.<\/p>\n
Chief Executive Officer of Lippo Group James T. Riady said
\nforeign investors had responded positively to the listing of
\nAsuransi Lippo.<\/p>\n
\"We have a strong commitment to develop Asuransi Lippo further
\nto become the leader in the commercial retail and health care
\nsectors in Indonesia,\" he said. (aly)<\/p>",
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"sponsor": "Okusi Associates",
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