Stock Exchange Starts Trading Initial SWID Shares Of IDR 200, Property Company Saraswanti Will Have Market Capitalization Of IDR 1.08 Trillion

Main hall of the Stock Exchange. (Photo: Doc. BEI)

JAKARTA - The Indonesian Stock Exchange (IDX) trading hours today (Thursday 7 July) will be opened by property company PT Saraswanti Indoland Development Tbk. This event is part of the listing of shares and warrants with a SWID code.

Quoting BEI's statement, SWID's shares will be listed on the development board. SWID is the 22nd listed company listed on the IDX this year.

SWID's initial shares are traded from Rp. 200. The number of shares listed is 5.38 billion, so the market capitalization reaches Rp. 1.08 trillion.

In addition, SWID Warrants will be recorded with code SWID-W. The exercise price from SWID-W is IDR 250.

As is known, Saraswanti has completed the initial public offering (IPO) process on July 1-5. On that occasion, SWID's shares were even oversubscribed 22 times.

In the IPO, Saraswanti released 340 million shares, equivalent to 6.31 percent of the issued and paid-up capital after the IPO.

The total IPO proceeds raised by the company is estimated to reach Rp. 68 billion. All funds obtained, after deducting share issuance costs and funds obtained from the exercise of Series I Warrants, will be used as working capital for the company.