Officially Listed On The Stock Exchange, RGAS Shares Rise To Rp132

Photo: (Aris Nurjani/VOI)

JAKARTA - PT Kian Santang Muliatama (RGAS) which is engaged in the large trading industry of equipment and other equipment machines, mechanical installations, oil and gas installations officially debuted on the Indonesia Stock Exchange (IDX) on Wednesday, November 8.

At 09:07 WIB, RGAS shares rose 12 or 10 percent to a price position of IDR 132. In this Initial Public Offering (IPO), RGAS released 334.20 million shares or the equivalent of 22.90 percent of the company's issued and paid-up capital after the IPO process.

Meanwhile, RGAS has set the IPO price at the level of Rp120 per share so that RGAS has the potential to reap fresh funds of as much as Rp40.10 billion.

Simultaneously, RGAS issued a series I warrant of 200.52 million shares, equivalent to 17.82 percent of the total number of issued and fully paid shares. Series I Warrants are given free of charge as incentives for new shareholders.

This series I Warrant has a nominal value of Rp40 with the exercise price of Series I Warrants being Rp210 per share.

So that the total results of the Series I Warrant implementation are a maximum of IDR 42.10 billion.

The ratio of series I warran is 1 in 3 meaning that every ownership of 3 RGAS shares is entitled to 1 sheet of series I warrant.