JAKARTA (Yosefardi) – Bank Mestika Dharma (BBMD) gained 12.3% in its trading debut on Indonesia Stock Exchange (IDX) Monday (July 8).
The bank offered its IPO shares at Rp1380 per share, but opened higher by 12.3% to Rp1550.
Malaysian RHB Capital is in the process of acquiring 40% shares of Bank Mestika Dharma, which is based in Medan, North Sumatra.
Other banking shares, meanwhile, were in deep red, where Bank Rakyat Indonesia lost 3.87%, while BCA down 3.7%. Bank Bukopin collapsed 5.71%, while BNI and Bank Mandiri down 4.91% and 2.45% respectively.