TMPI floats shares on JSX

JAKARTA (JP): Plywood producer PT Tirta Mahakam Plywood Industry (TMPI) floated on Monday its shares on the Jakarta Stock Exchange (JSX).

President of PT Harita Kencana Securities Christina Lim said the wood-based industry's shares received a good response from the public during the first day of trading.

The share price (coded TIRT) gained 11 percent to close the day at Rp 975.

TMPI sold 50 million new shares, about 30 percent of its enlarged stocks, at Rp 875 a piece during the Initial Public Offering (IPO) between Nov. 24 and Nov. 26. (udi)