Tanjung lists shares on SSX

JAKARTA (JP): PT Tanjung Bangunsemesta, a TV cable provider, made a capital market debut on Friday when it floated about 374.30 million shares on the Surabaya Stock Exchange (SSX).

The exchange said in a statement that the company became the first firm this year to float its shares only on the Surabaya exchange.

Most companies trading on the SSX were cross-listed on the Jakarta Stock Exchange. The exchange expected three more companies to follow suit within the next few months.

Tanjung, which received an approval from the Capital Market Supervisory Agency (Bapepam) for its initial public offering late last month, sold its shares with a face value of Rp 500 at par in the primary market. (hen)