Grand Kartech, an Indonesian engineering and manufacturing company, will be listed on the Indonesia Stock Exchange (IDX) today (08/11). The company offers 163.64 million shares to the public through its initial public offering (IPO). The stock price that was set for the IPO amounts to IDR 275 (USD $0.024) per share and the company expects to reap IDR 45 billion (USD $4.0 million) through this corporate action. Demand for Grand Kartech's shares has been high as the IPO is oversubscribed almost 44 times.

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Pembangunan Perumahan (better known as PP) is a government-controlled construction and investment company in Indonesia. The company's lines of businesses consist of construction services in building and infrastructure, property, engineering, procurement and construction (EPC), as well as investment. PP was the second-largest company in terms of largest net income in Semester I-2013. Being a state-controlled entity, it benefits from the government's increased focus on infrastructure development. 

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