Property developer PT Nirvana Development (NIRO) Tbk kicks off trading of its shares on Indonesia Stock Exchange (IDX) this morning. It offers 6 billion shares in the initial public offering (IPO) at Rp105 per share to raise Rp630 billion. It starts the trading with market capitalization of Rp1.89 trillion or about US$200 million. Who’s behind the company?
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