Shares of general insurer Malacca Trust Wuwungan Insurance (MTWI) jumped 70% to Rp170 per share in its trading debut this morning. The Company offered 310 million shares through the initial public offering (IPO) priced at Rp100 per share, raising total proceeds of Rp31 billion. MTWI started trading with market capitalization of Rp152.58 billion. MTWI suffered loss of Rp4.5 billion in Jan-Mar 2017 period on total underwriting income of Rp15 billion. Its assets reached Rp282 billion while liability amounted Rp183 billion.
