JAKARTA (Yosefardi) – Shares of PT Electronic City Indonesia (ECII) Tbk dropped 8.02% to Rp3725 on its trading debut at Indonesia Stock Exchange (IDX) Wednesday (July 3rd).
The electronic retailer offered 333 million shares in the initial public offering (IPO) at Rp4050 per share to raise Rp1.35 trillion. Danareksa Sekuritas is underwriter of the IPO.
At Rp4050, ECII started the trading with market capitalization of Rp5.4 trillion. The company had total assets and equity of Rp468 billion and Rp225.7 billion respectively as at December 31, 2012.
Electronic City booked net profit of Rp125 billion from Rp1.43 trillion of revenues from continuing operations last year.