JAKARTA (Yosefardi) – Shares of PT Merdeka Copper Gold Tbk (MDKA) gained 15.5% to Rp2310 per share at its trading debut this morning with over 5.2 million shares exchanged hands valuing of Rp12.6 billion.
MDKA has offered 419.65 million shares through the initial public offering (IPO), priced at Rp2,000, raising total proceeds of Rp839.3 billion. It lists 3.05 billion shares at the Indonesia Stock Exchange (IDX).
The IPO proceeds will be allocated to PT Bumi Suksesindo’s mining site development, including management and supporting facilities constructions, to Bumi Suksesindo’s debt payment to PT Bank DBS Indonesia and UOB Bank Ltd, and for working capital.
MDKA suffered loss of US$5.08 million in 2014. Its assets totaled US$126.73 million while liability amounted US$106.57 million.