Malacca Trust Wuwungan Insurance, subsidiary of financing firm Batavia Prosperindo Finance (BPFI), has set its IPO price at Rp100, to raise Rp31 billion proceeds. It will offer 310 million shares through the initial public offering (IPO), starting today and will last on Wednesday(Oct 4). Listing at stock exchange is set for October 11, 2017. Panin Sekuritas acts as underwriter for this IPO. Per March 2017, Malacca Trust’s risk based capital (RBC) reached 282%, higher than minimum 120% set by the regulation. In 2016, the Company booked gross premium income of Rp202.08 billion.
