Shares of insurance firm Asuransi Tugu Pratama Indonesia (TUGU) lost 5.7% to Rp3630 per share in its trading debut this morning trade. The Company offered 177.77 million shares through the initial public offering (IPO), priced at Rp3850 per share. It listed 1.77 billion shares on the Indonesia Stock Exchange (IDX). At IPO price, TUGU started trading with market capitalization of Rp6.84 trillion. The Company raised Rp684.4 billion via IPO.
