JAKARTA – The shares of mining services company PT Sinar Terang Mandiri Tbk (MINE) and automotive component manufacturer PT Jantra Grupo Indonesia Tbk (KAQI) diverged after both debuted on the Indonesia Stock Exchange (IDX) earlier this week.

MINE shares successfully entered the Top Gainers list on Monday (10/3), with a 25% price increase since the opening. On Tuesday, MINE shares again entered the Top Gainers with a further 24.44% price rise.

On the other hand, KAQI shares plunged 24.3% on Monday after their stock listing, and the decline continued on Tuesday, falling another 24.91%, dragging the automotive repair company’s shares into the Top Losers list.

As previously reported by IDNFinancials.com, MINE raised IDR 132.3 billion from the offering of 612.66 million shares during its IPO. Meanwhile, KAQI secured IDR 53.1 billion from 450 million shares offered in its IPO.

From these funds, MINE will continue expanding its business in the nickel sector. KAQI also plans to use the IPO proceeds for opening new repair shop branches in various cities. (KR/ZH)