INET Becomes 50th Company To Be Listed on Stock Exchange This Year

Jakarta Globe are reporting that Sinergi Inti Andalan Prima (INET), also known as Sinergy Networks, a B2B internet provider, was officially listed on the Indonesia Stock Exchange (IDX) on Monday, becoming the 50th company to do so this year.

It recently held an initial public offering by issuing 1.5-billion new shares at a price of IDR 101 per share.

“Today is a crucial moment for us and potential investors who are eager to take part in the journey to ‘digital Indonesia’,” INET Chief Executive Officer Muhammad Arif said.

During its trading debut in the secondary market Monday morning, INET shares opened 34.65 percent higher to Rp 136, activating the circuit breaker set at 35 percent for share prices between Rp 50 and Rp 200, report Jakarta Globe.

Jakarta Globe say that hitting the limit-up rule is considered a positive outcome for debutants on the IDX.

During the first 30-minutes after the market opening, INET shares were traded more than 24,000 times amounting to IDR 416-million (approx. USD 27,700) in value.

Prior to the IPO, 99.99-percent of INET shares were owned by Abadi Kreasi Unggul Nusantara, with an individual named Muhammad Arif holding the remaining 0.01 percent, say Jakarta Globe.

Source: Jakarta Globe

Photo by Ruben Sukatendel on Unsplash

Latest Article
Danantara Open to Backing Affordable Housing Program
Jakarta Globe is reporting that Danantara is open to the possibility of backing the government’s...
Asia's Economic Growth 2025 Forecast: Set to Reach 4.5 Percent
Asia’s economic growth in 2025 is expected to reach 4.5%, reinforcing the region’s critical...
QJ Motor Invests in West Java Assembly Plant
Jakarta Globe is reporting that Chinese motorcycle manufacturer QJ Motor announced on Wednesday (26/3/25,)...
BPJS Ketenagakerjaan Investment Strategy Amid Market Volatility
BPJS Ketenagakerjaan (Indonesia’s Social Security for Employment) has initiated an investment strategy...
Indonesia Joins BRICS' New Development Bank
Jakarta Globe is reporting that President Prabowo Subianto, announced on Tuesday (25/3/25) that Indonesia...