Adaro jumps 60% in Indonesia’s biggest IPO


  • Business Premium
  • Thursday, 17 Jul 2008

JAKARTA: Shares in PT Adaro Energy Tbk leapt as much as 60% in their market debut after the Indonesian coal firm priced the issue lower than expected and raised US$1.3 billion in the country’s largest ever initial public offering.

The over subscription and strong debut of Asia’s third biggest IPO this year outside Japan, according to Thomson Reuters data, is in contrast to many deals that were scrapped in the last few months due to a severe downturn in global equity markets.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Axiata to unlock more value in digital services Premium
Quick take: Edaran jumps 11% in active trade Premium
Bursa set to move sideways on lack of catalysts Premium
Quick take: Tafi climbs on new RM30mil contract Premium
Trading ideas: MPay, PLUS Malaysia Bhd, Scientex, TAFI Industries Premium
Ahead of Blinken trip to Malaysia and Asean, US says committed to 'unprecedented' ASEAN ties Premium
Oil price edges higher on waning fears of Omicron's effects Premium
Citigroup pauses buybacks briefly due to new capital rule Premium
GameStop discloses SEC subpeona on trading activity, posts bigger-than-expected loss Premium
GLOBAL MARKETS-Stocks, debt yields edge up as Omicron fears ease Premium

Others Also Read


Vouchers