Bisnis.com, JAKARTA — Two newly-listed stocks backed by business tycoons, PT Trimitra Trans Persada (BLOG) and PT Merry Riana Edukasi (MERI), made a successful debut on the Indonesia Stock Exchange (IDX) this week after both stocks hit their daily upper rejection limit (ARA) on their first day of trading.
BLOG, affiliated with retail chain Alfamart owned by tycoon Djoko Susanto, jumped 24.8% or 62 points upon listing on Thursday (10/7) as soon as trading opened in the morning. Through the day, the stock transaction value reached IDR 57.6 million with 1,846 shares traded across 613 transactions.
