JAKARTA (Yosefardi) – Shares of PT Bank Maspion Indonesia, based in Surabaya, East Java, was traded flat in its trading debut this morning trade, traded at Rp320 per share, equal to its IPO price.
The bank had offered 770 million shares, representing 20% of its totaled issued and paid-up shares capital, through the initial public offering (IPO). The IPO proceeds, targeted for Rp246.4 billion, will be used to fund the bank’s loan expansion.
As of December 2012, the bank’s assets totaled Rp3.4 trillion while liability amounted Rp3.03 trillion. Net interest income reached Rp127.73 billion last year. However its comprehensive profit declined to Rp23.65 billion from Rp38.68 billion in 2011.