Trimitra Propertindo Makes Trading Debut on the Indonesia Stock Exchange
Indonesian construction company Trimitra Propertindo made its trading debut on the Indonesia Stock Exchange on Thursday (23/08). The company is the 33rd company that has completed its initial public offering (IPO) on the local bourse so far in 2018. There are now a total of 597 listed companies in Indonesia.
Trimitra Propertindo offered 773.3 million new shares to the public - equivalent to 27.66 percent of the company's total share equity - for a price of IDR 390 per share. Ergo, Trimitra Propertindo raised IDR 301.6 billion (approx. USD $20.6 million) through the corporate move.
The company will use 16 percent of the IPO proceeds for the repayment of debt at Bank Tabungan Negara, while 66 percent of proceeds will be used to finance the construction of an apartment complex project called 'Parkland Avenue' in Serpong (Tangerang). Meanwhile, the remaining 18 percent of IPO proceeds goes to the company's working capital budget.
Suryadi Tan, President Director of Trimitra Propertindo, said the IPO was oversubscribed more than 88 times. Lead underwriter was UOB Kay Hian Sekuritas. On its first trading day shares of Trimitra Propertindo soared 50 percent to close at IDR 585 a piece.
Trimitra Propertindo is a developer and general contractor for the construction of buildings, bridges, roads, as well as the installation of pipelines. It also develops residential areas, housing infrastructure, apartments, and hospitality construction projects.
So far in 2018 a total of 33 companies have been added to the Indonesia Stock Exchange:
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 23 August 2018
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| LCK Global KedatonLCKM | 254 | 250 | 1.60% | N/A | 0.00% | -34.20% |
| Borneo Olah Sarana SuksesBOSS | 111 | 113 | -1.77% | N/A | 0.00% | -35.09% |
| Jaya TrishindoHELI | 464 | 496 | -6.45% | N/A | 0.00% | 125.24% |
| Sky Energy IndonesiaJSKY | 131 | 130 | 0.77% | N/A | 0.00% | -31.05% |
| Indah Prakasa Sentosa Tbk.INPS | 2,000 | 2,000 | 0.00% | N/A | 0.00% | -59.60% |
| Gihon Telekomunikasi Indonesia Tbk.GHON | 2,100 | 2,200 | -4.55% | N/A | 0.00% | 23.53% |
| Tridomain Performance Materials Tbk.TDPM | 119 | 119 | 0.00% | N/A | 0.00% | -13.14% |
| Dafam Property Indonesia Tbk.DFAM | 170 | 180 | -5.56% | N/A | 0.00% | -1.73% |
| Charnic Capital Tbk.NICK | 278 | 278 | 0.00% | N/A | 0.00% | -10.90% |
| Bank Tabungan Pensiunan Nasional Syariah Tbk.BTPS | 3,620 | 3,680 | -1.63% | N/A | 0.00% | 0.56% |
| Bank BRIsyariah Tbk.BRIS | 2,450 | 2,540 | -3.54% | N/A | 0.00% | -23.20% |
| Surya Pertiwi Tbk.SPTO | 482 | 476 | 1.26% | N/A | 0.00% | -13.15% |
| Royal Prima Tbk.PRIM | 180 | 180 | 0.00% | N/A | 0.00% | -19.64% |
| Medikaloka Hermina Tbk.HEAL | 4,560 | 4,600 | -0.87% | N/A | 0.00% | 21.60% |
| Sarimelati Kencana Tbk.PZZA | 795 | 785 | 1.27% | N/A | 0.00% | 5.30% |
| Guna Timur Raya Tbk.TRUK | 218 | 199 | 9.55% | N/A | 0.00% | -8.40% |
| Asuransi Tugu Pratama Indonesia Tbk.TUGU | 1,580 | 1,585 | -0.32% | N/A | 0.00% | -10.23% |
| Steadfast Marine Tbk.KPAL | 52 | 50 | 4.00% | N/A | 0.00% | 4.00% |
| Sriwahana Adityakarta Tbk.SWAT | 100 | 101 | -0.99% | N/A | 0.00% | -2.91% |
| MNC Studios International Tbk.MSIN | 158 | 159 | -0.63% | N/A | 0.00% | -10.73% |
| Trimuda Nuansa Citra Tbk.TNCA | 370 | 368 | 0.54% | N/A | 0.00% | 28.47% |
| Map Aktif Adiperkasa Tbk.MAPA | 2,280 | 2,250 | 1.33% | N/A | 0.00% | -6.17% |
| Transcoal Pacific Tbk.TCPI | 8,150 | 8,550 | -4.68% | N/A | 0.00% | -4.12% |
| Batavia Prosperindo Trans Tbk.BPTR | 90 | 87 | 3.45% | N/A | 0.00% | 13.92% |
| Jaya Sukses Makmur Sentosa Tbk.RISE | 430 | 428 | 0.47% | N/A | 0.00% | 3.86% |
| Indonesia Kendaraan Terminal Tbk.IPCC | 615 | 620 | -0.81% | N/A | 0.00% | 13.89% |
| Pollux Properti Indonesia Tbk.POLL | 4,000 | 4,300 | -6.98% | N/A | 0.00% | -6.54% |
| Sinergi Megah Internusa Tbk.NUSA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Mahkota Group Tbk.MGRO | 760 | 765 | -0.65% | N/A | 0.00% | -5.59% |
| NFC Indonesia Tbk.NFCX | 2,050 | 2,200 | -6.82% | N/A | 0.00% | -10.48% |
| MD Pictures Tbk.FILM | 360 | 356 | 1.12% | N/A | 0.00% | 0.00% |
| Andira Agro Tbk.ANDI | 50 | 51 | -1.96% | N/A | 0.00% | -7.41% |
| Trimitra Propertindo Tbk.LAND | 149 | 150 | -0.67% | N/A | 0.00% | -6.88% |
| Combined Total | 39,176 | 40,296 | -2.78% | -8.63% |
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available