JAKARTA (Yosefardi) – Shares of PT Bank Yudha Bhakti Tbk (BBYB) soared 65.22% to Rp190 per share on its trading debut this morning. Some 14.67 million shares were exchanged hands with value of Rp2.84 billion.
BBYB listed 2.49 billion shares at the Indonesian Stock Exchange (IDX). It had offered 300 million shares to public investors at price of Rp115, raising proceeds of Rp34.5 billion.
BBYB started trading at IDX with market capitalization of Rp286.35 billion.
The bank will use the IPO proceeds for supporting loan (72.14%) and investing in information technology system (27.86%).
BBYB booked net profit of Rp6.13 billion in first half of 2014 on net interest income of Rp61.93 billion. Its assets totaled Rp2.25 trillion while liability amounted Rp1.98 trillion.