JAKARTA (Yosefardi) – Saratoga Investama Sedaya (SRTG) lost almost 10% in its trading debut on Indonesia Stock Exchange (IDX) Wednesday (JUne 26) morning.
Saratoga opened lower by Rp525 to Rp4975, or about 10% below its initial public offering (IPO) price of Rp5,500/share.
Saratoga is an investment holding with interests in motorcycle distribution, telecommunication tower operation, plantation, finance, and energy.
Businessman Edwin Soeryadjaya is substantial shareholder of Saratoga, which also invests in toll road development.