Investors keep buying shares of Madusari Murni Indah (MOLI) on Friday, as the stock gained further 24.7% to Rp1085 per share this morning. On its listing and trading debut yesterday (Aug 30), MOLI gained 50% to Rp870 with 919,200 shares exchanged hands at value of Rp799.7 million.
MOLI, engaged in basic chemical industry, producing ethanol, offered 351 million shares through initial public offering (IPO) and listed 2.33 billion shares. IPO price was set at Rp580, to raising total proceeds of Rp203.58 billion. MOLI started trading yesterday with market capitalization of Rp1.35 trillion.
MOLI booked net profit of Rp31.7 billion in first quarter (Q1) of 2018 on revenues of Rp277.5 billion. In 2017, it booked net profit of Rp87.6 billion on revenues of Rp1.13 trillion.