Pembangunan Perumahan Properti (PP Properti), a property developer and unit of state-controlled Pembangunan Perumahan (PP), made a successful listing on the Indonesia Stock Exchange (IDX) today (19/05). Shares of PP Properti soared 35 percent at its trading debut. After Bank Yudha Bhakti (BBYD) and Mitra Keluarga Karyasehat (MIKA), PP Properti (PPRO) is the third Indonesian company to have conducted an initial public offering (IPO) in the Indonesia Stock Exchange (Mitra Energi Persada had relisted earlier in May 2015).

Read more ›

Indonesian property firm Pembangunan Perumahan Properti (PP Properti), which conducts its initial public offering (IPO) on the Indonesia Stock Exchange (IDX) this month, expects to raise IDR 908.8 billion (USD $69 million) for further business expansion through this corporate action. This figure is much lower than its initial target of IDR 1.57 trillion. PP Properti plans to sell 35 percent of the company’s enlarged capital. The price per share is set at IDR 185 with the offering period between 11 and 13 May 2015.

Read more ›