JAKARTA (Yosefardi) – Shares of general insurer PT Victoria Insurance Tbk (VINS) gained 19% to Rp125 per share at its trading debut this morning. While the composite index of the Indonesia Stock Exchange (IDX) dropped 1.55% to 4144 at 9.58 am Jakarta time.
It has offered 376 million shares through the initial public offering (IPO) at price of Rp105, raising total proceeds of Rp39.48 billion. The company lists 1.45 billion shares with market capitalization of Rp152.3 billion.
VINS booked net profit of Rp4.4 billion in first quarter of 2015 on revenue of Rp7.83 billion. In 2014, the company booked net profit of Rp8.3 billion on revenue of Rp18.57 billion. Its assets reached Rp158.6 billion while liability amounted Rp45.1 billion.