Initial Public Offerings (IPO) in Indonesia: Megapower Makmur
Indonesian electricity producer Megapower Makmur was added to the Indonesia Stock Exchange on Wednesday (05/07), hence becoming the 19th company to have conducted an initial public offering (IPO) in Indonesia this year. After trading opened the company immediately became the top gainer on the local exchange, with its shares surging 70 percent to IDR 340 a piece. As a result the auto rejection system kicked in, blocking any further movements.