Jasa Tania shares listed on JSX

Jasa Tania shares listed on JSX

JAKARTA: Insurance firm PT Asuransi Jasa Tania made its
listing debut on the Jakarta Stock Exchange (JSX) on Monday after
selling 16.7 percent of its total shares via an initial public
offering (IPO) in mid December.

The company said that it reaped Rp 15 billion (US$1.7 million)
in proceeds from the IPO, with each share priced at Rp 200.

On Monday's trading, the company shares ended higher at Rp
375.

The company said that around 60 percent of the proceeds would
be used for expansion of its premium, 25 percent for upgrading
information technology infrastructure and the remaining 15
percent for developing human resources.

Next year, the company targets an operating revenue of Rp
135.8 billion and a net profit of Rp 21.8 million.

After the IPO, the company's remaining 58.3 percent of shares
are owned by the Plantation Pension Fund and the other 25 percent
by plantation company PT Dapenbun Nusantara. The company did not
provide details on its largest shareholders. -- JP