JAKARTA - The stock price of PT Sarana Mitra Luas Tbk (SMIL) was seen increasing 35% during the closing at last week's (12/5) closing bell, bringing the company to rise as top gainers above other issuers that strengthen amidst the idle Jakarta Composite Index (JCI).

Based on the IDX data compiled by IDNFinancials today (15/5), the stock of this heavy equipment provider was highly sought after by the investors during its initial public offering (IPO) last Friday (12/5). Opened at IDR 100, it was closed at IDR 135 per share.

In its debut, SMIL issued 1.75 billion new shares or 20% of the total issued and paid-up capital post-IPO. Its plan to purchase 150 units of forklift to expand its business has ignited positive sentiment in public, resulting in its stock price increase.

The volume of traded shares was recorded at 25.63 million within 4,767 times worth IDR 3.46 billion. Foreign investors regard this issuer worth collecting amidst the weakened capital market the past week, as indicated by the foreign buy of 1.80 million shares and foreign sell of 102,500.

The second top gainer is PT Tripar Multivision Tbk (RAAM), scoring 24.78% increase. This issuer, owned by Raam Punjabi, shifted IDR 140 from IDR 565 per share to IDR 705 per share. (LK/ZH)