3 IPO 'Less Fortunate' in 2011?

Make Money Blog$-Jakarta - Opening in 2011, Indonesia Stock Exchange (BEI) hasreceived the arrival of 3 guests, PT megapolitan Development Tbk(EMDE), PT Martina Berto Tbk (MBTO) and PT Garuda IndonesiaTbk (GIAA). Unfortunately, luck does not favor the 3 'guest' is thateverything must end in negative territory.


Three initial public offering (initial public offering / IPO) this can beassessed as a corporate action that are less satisfactory, if notexactly want to fail, because it does not produce such IPO stockprice increases in general.

Shares of all three corrected immediately right on his first day intothe stock. The situation is volatile stock market slump could be thecause of those stocks.

However, there also may be other factors that caused its sharescould not move up, such as fundamentals of the issuer itself or the share price offered by the underwriters (underwriter) is tooexpensive as in the case of PT Garuda Indonesia.
The first IPO in 2011, namely megapolitan Development in tradingdebut on Wednesday (12/01/2011), go straight down and be in a position to Rp 215 per share, although it could rise in the level of Rp 270 per share.

At its inaugural listing at 9.30 JATS in the same hair, EMDEshares edged up 8% to as low as USD 270, compared pedanaprice USD 250. However, within 10 minutes later, the stockimmediately dropped to USD megapolitan 230, and continued tofall in the level of USD 215. This means there is a decrease of 14%.

And when it, JCI closed at a new 3531.046, or recovered byincreased 2.23% compared to the previous one-day closure.Today, the stock closed EMDE stagnant at Rp 154 per share,already down 38% from the IPO price.
Megapolitan release of shares to the public as much as 850 millionshares with a total fund that can be assembled to reach USD212.5 billion.

Issuer second in 2011 was PT Martina Berto Page listing inJanuary 13, 2011 and then, with initial price of Rp 740 per share. Inearly trading at the time, MBTO stock briefly rose to $ 800 persheet, but it did not last long.

In the early opening of stock trading at 09.30 times JATS,Thursday (1/13/2011), the stock rose significantly MBTO $ 60 fromthe previous pricing, Rp 740 per share. But the stock subsequentlyfell MBTO and at 9:35 o'clock JATS time, its share dropped to Rp710 per share, and had touched the lowest price at Rp 670 pershare.

Son of Martha Tilaar business that offers stock offering of 355million shares, equivalent to 33.17% of the total shares of the company. By offering new shares to the public that funds acquiredto reach USD 262.7 billion.

Similarly EMDE stock, stock index on January 13, it also has been noted that rebound, but the stock MBTO still not able to strengthen.In trading on Thursday (13/01/2011), JCI recorded rose 10.171points (0.28%) to the level of 3564.937.
Until Friday, February 11, the stock closed lower MBTO at Rp 475per share, down USD 5 from the previous day's close at Rp 480per share. Its shares are down 35.8% from its inaugural price.

Guest Last Exchange in early 2011, this is a state-owned airline,Garuda Indonesia. The same thing happened again to share thisGIAA coded as two previous guest.

In the early opening of stock trading at 09.30 JATS, Friday(2/11/2011), the stock declined significantly GIAA USD 50 from the previous pricing, Rp 750 per share. Until the closing of the stock,shares of Garuda at Rp 620 per share, corrected USD 130(17.33%) from the opening price of Rp 750 per share.

And again, weakening stocks also continued to occur despiteGIAA JCI has been recovered. In trading Friday (11/02/2011),stock index rose 18.122 points (0.53%) to the level of 3391.766.

Garuda became one of the most active stock with tradingfrequency as much as 10,166 times with a volume of 1.166 million,equivalent lots 583.479 million shares. Foreign investors alsoremove the stock Garuda up to as much as USD 11.232 billion.
Garuda release new shares amounting to 6.335 billion shares, equivalent to 26.67% of total capital determined. With the price ofRp 750 per share then the funds can Rp 4.751 trillion.

Many factors that underlie why the shares are registered directlylackluster offering it on debut.

Especially for Garuda, investors would assess the initial price ofUSD 750 is set too expensive, as well as listing the wrong time so as to make direct investors off their portfolios.

Head of Investment Banking UBS Securities said Rajiv Louis,Garuda stock is too high and into the market at the moment that is not right as well as global inflation factors also contributed tonegative sentiment in the stock market.

"(The decline of Garuda) is due to global inflation factor. Maybe the price is also too high and the timing is not right. So there areseveral factors that influence such as world inflation," said Rajiv.

Indonesia Stock Exchange (IDX) estimates the number of issuersthat will be listing its shares on thethe stock exchange in 2011 willreach 25 . Hopefully, these issuers may have fared better.
Source: detik.com
(ang / Qom)

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