JAKARTA – Nearing 2024 National Election Day, companies are making their moves to hold initial public offering (IPO) in Indonesia Stock Exchange (IDX).

Today (12/2), three companies listed their initial stocks. They consist of PT Multikarya Asia Pasifik Raya Tbk (MKAP), PT Harta Djaya Karya Tbk (MEJA), and PT Homeco Victoria Makmur Tbk (LIVE).

MKAP offered 650 million shares (20%) for IDR 115 each, recording IPO proceeds of IDR 74.75 billion, while MEJA set the price to IDR 103 per share for 480 million (25.03%) of its shares, aiming to raise IDR 49.44 billion of fresh funds.

Lastly, LIVE offers the stock with the highest price among its peers, IDR 148 per share for 808.35 million shares, thus bringing total IPO value to IDR 119.64 billion.

Today, Jakarta Composite Index (JCI) was opened at approximately 7,280 at 9 AM WIB, entering green zone as it rises from last week’s (7/2) closing position.

Once begun at 9 AM WIB, MKAP had already touched the upper auto rejection level, soaring 34.78% to IDR 155 per share. LIVE’s shares were also seen climbing 18.9% to IDR 176 per share, while MEJA was seen declining to IDR 55 per share, before finally picking up to IDR 112 at 9.13 AM WIB.

For the record, within the past week, IDX had recorded 7 new stocks. PT Mitra Pedagang Indonesia Tbk (MPIX), debuting last Wednesday (7/2), was still popular among investors whilst scoring price surge to IDR 356 per share from the initial price of IDR 268. (ZH)