BMS floats shares on JSX

JAKARTA (JP): Property developer PT Bintang Mitra Semestaraya (BMS) floated its shares on the Jakarta Stock Exchange (JSX) on Wednesday.

President Lukman Purnomosidi said he was optimistic about housing development next year.

"I predict the demand for new houses will reach between 150,000 and 160,000 units next year," he said.

The share price (coded BMSR) gained Rp 600, or more than 100 percent, to close the day at Rp 1100.

BMSR sold 130 million new shares, about 38 percent of its enlarged stocks, at Rp 500 a piece during the initial public offering (IPO) between Dec. 14 and Dec. 16. (udi)