Fortune floats shares on JSX

Fri, 18 Jan 2002 | Source: AGENCIES

JAKARTA: Marking this year's first listing on the Jakarta Stock Exchange (JSX), marketing communications firm PT Fortune Indonesia floated 205 million new shares on Thursday.

Fortune manage to raise Rp 26.65 billion (about US$2.5 million) in new capital from its initial public offering.

"Our shares rose to hit Rp 220 not long after opening at Rp 130," Fortune corporate secretary Indira Abidin said, adding that a JSX ruling constraining market fluctuations limited the share's upsurge to Rp 220 for that day.

Last week's initial public offering saw Fortune's shares oversubscribed by 96.61 percent, the company said in a press statement. - JP

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