KUALA LUMPUR (July 4): Construction player Bina Puri Holdings Bhd has received the green light from the Indonesia Stock Exchange (IDX) for the listing of its subsidiary PT Megapower Makmur Tbk.

In a filing with Bursa Malaysia yesterday, Bina Puri said the approval was given by IDX via a letter dated June 22.

The company said the issue price for the PT Megapower shares has been fixed at 200 rupiah (6 sen). The proposed listing involves an offering of up to 245.1 million new shares for subscription or purchase at the offer price.

PT Megapower is expected to be listed on the IDX tomorrow.

Bina Puri shares closed up 0.5 sen or 1.2% at 41 sen yesterday, giving it a market capitalisation of RM109.2 million.

This article first appeared in The Edge Financial Daily, on July 4, 2017.

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