Indonesian concrete firm WIKA Beton surges on trading debut
JAKARTA, April 8
JAKARTA, April 8 (Reuters) - Shares of Indonesian concrete firm PT Wijaya Karya Beton (WIKA Beton) surged as much as 50 percent in its trading debut on Tuesday, signalling strong investor appetite for infrastructure-related stocks in Southeast Asia's biggest economy.
WIKA Beton shares hit as much as 885 rupiah ($0.08) versus its initial public offering price of 590 rupiah. The Jakarta stock exchange was up 0.1 percent.
WIKA Beton, a unit of state-owned PT Wijaya Karya Tbk , makes construction materials such as bridge beams, retaining walls and pipes. ($1 = 11302.50 rupiah) (Reporting by Fathiyah Dahrul and Eveline Danubrata; Editing by Paul Tait)
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