JAKARTA - PT Daya Intiguna Yasa Tbk (MDIY) has officially made its debut on Indonesia Stock Exchange (IDX) on December 19, 2024.

MDIY is known to have set the initial public offering (IPO) price to IDR 1,650 per share, thus resulting in total proceeds of IDR 4.15 trillion.

However, a couple of minutes after the opening bell, MDIY saw sharp decline by 14.58%, from the IPO price of IDR 1,650 to IDR 1,405 per share. Thankfully, as of 10 AM WIB, the price climbed 10.30% to ID 1,820 per share.

For the record, the IPO proceeds will be allocated to several strategic requirements, including 60% for bank loan settlement, 30% for outlet expansion, and 10% for working capital.

Mr. DIY has been operating in Indonesia since 2017, and now has rapidly expanded, managing over 800 outlets across all provinces in Indonesia.

After becoming the member of IDX, MDIY expects to be able to strengthen its position in the market, as well as expanding its outlet network in Indonesia, particularly following the increased demand for household maintenance and daily goods from consumers. (DK/ZH)