PT Asuransi Tugu Pratama Indonesia Tbk's shares ended their first day of trading on the Indonesia Stock Exchange down 6.49% to 3,600 rupiah on May 28.
The Indonesian insurer offered 177,780,000 shares in the IPO. This represents 10% of its paid-up capital, at 3,850 rupiah per share, IDNFinancials reported.
Funds raised through the offering will go toward supporting the company's capital expenditures and business development over the next three to five years, the bourse's news outlet said.
As of May 30, US$1 was equivalent to 13,948 Indonesian rupiah.
