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JAKARTA — Indonesia’s Barito Renewables Energy jumped 25% on Monday morning on the geothermal operator’s market debut in Jakarta after it raised 3.13 trillion rupiah ($200 million) from an initial public offering last week.
The shares rose to 975 rupiah apiece at the session’s open on the Indonesia Stock Exchange, up 25% from their IPO price of 780 rupiah — which was the top of the IPO price range. More than 4 billion shares were sold to the public, representing just 3% of the company, which is a subsidiary of Indonesian energy group Barito Pacific.
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