Shares of Sarimelati Kencana (PZZA), operator of Pizza Hut outlets in Indonesia, closed higher by 3.57% to Rp116 last Thursday (Mar 27). The stock, however, is now worth only one-tenth of the valuation set by underwriters (CLSA, CGS-CIMB and Mandiri Sekuritas) in the initial public offering (IPO) seven years ago. To subscribe please click here
