Phapros listed on Indonesian stock exchange

Jakarta (ANTARA News) - PT Phapros Tbk has officially been listed on the Indonesian Stock Exchange (BEI), the 57th company floating its shares on the share market this year.

"The decision of the company management in listing its shares at the BEI could result in better performance of the company," Director of Company Assessment at the BEI I Gede Nyoman Yetna said here on Wednesday.

It would be easier for the pharmaceutical company which is based in Semarang, to raise fund to finance its business expansion in the future, Yetna said.

He said he hopes the share of PT Phapros Tbk would be a new icon at the capital market that it would contribute to boosting the countrys economic development.

Phapros chief executive Barokah Sri Utami with the share listed, the company share price would be standardized.

Meanwhile, B. Didik Prasetyo, the Chief Executive of Rajawali Nusantara indonesia (RNI), the parent company of PT Phapros, said the share listing is a part of strategic step to see the reasonable price of its share.

In its first trading, the price of the shares of PT Phapros Tbk rose to Rp1,200 each from the original price of Rp1,198 per share.

Source: ANTARA News

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