Shares of mining and trading firm Kapuas Prima Coal (ZINC) jumped 98% to Rp238 at 9.25 am Jakarta time today, its trading debut. Its IPO price was Rp140. ZINC offered 550 million shares through the initial public offering (IPO) and raised total proceeds of Rp77 billion. It started trading shares on the Indonesia Stock Exchange (IDX) with market capitalization of Rp637 billion. ZINC booked net profit of Rp2.63 billion for Jan-Apr 2017 period on revenues of Rp106.8 billion. Its assets reached Rp625 billion while liability amounted Rp298.9 billion.
