When it was first listed at the Jakarta Stock Exchange last Wednesday, public's demand for the share of said State Owned Company was extremely high that the price has sky rocketed to Rp 1.270 per share and up again to Rp 1.340 per share on Thursday.
Due to this fact, some members of Parliament and NGO have suspected that the share has intentionally been offered very low i.e. Rp 850. They said that during the roadshow to promote the IPO, people have shown interest to buy the share at around Rp 1.150 - Rp 1.200 per share.
For details, please find below an article that I have quoted from Kompas.
Sabtu, 13 November 2010 | 02:53 WIB
JAKARTA, KOMPAS.com - The polemics over the sale of PT Krakatau Steel (KRAS)’s shares through an initial public offering (IPO) could discourage foreign investors and have bad impact on the investment climate in the country.
Following the IPO, a controversy surfaced where many quarters were of the view that KRAS’ share price which was set at Rp850 percent was too low and might have benefited certain parties only while disadvantaging the state.
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Following the IPO, a controversy surfaced where many quarters were of the view that KRAS’ share price which was set at Rp850 percent was too low and might have benefited certain parties only while disadvantaging the state.
Read More ...
