JAKARTA (Yosefardi) – Honda motorcycle distributor PT Mitra Pinasthika Mustika (MPMX) Tbk declined 1.3% to Rp1480 on trading debut at Indonesia Stock Exchange (IDX) Wednesday (May 29).
MPMX is one of the largest motorcycle distributors in Indonesia with sales revenue over US$1 billion and net profit of Rp406 billion last year.
MPMX, controlled by Saratoga Investama, offered 970 million shares at Rp1500 per share in the initial public offering (IPO).
The company raised Rp1.45 trillion from the IPO. MPMX starts the trading with market capitalization of Rp6.69 trillion or about US$686 million.