Commercial electric vehicles (EV) supplier PT VKTR Mobilitas Indonesia officially listed on the Indonesia Stock Exchange (IDX) on Monday, with its shares almost hitting the upper circuit in early trading.
According to IDX data, shares of VKTR opened at 100 rupiah apiece and reached a high of 135 rupiah apiece immediately after listing. The shares ended at 111 rupiah apiece, up 11% from the opening price.
David Agus, Director of Investment Banking at Trimegah Sekuritas, said VKTR shares were oversubscribed 38 times in the IPO, showing a huge interest from retail investors. Foreign investors also participated actively in the share sale. UK-based investors participated in the IPO with ownership below 5%, Agus said.
