Tiphone, a local low-end phone manufacturer, on January 12 is officially listed in the Indonesia Stock Exchange (IDX). On their first day, share value is up 11% (Rp. 345 per share from the previous price Rp. 310 when it’s opened). Currently there are 1.35 billion shares offered to the public out of 4 billion shares owned by major shareholders. Tiphone offers 25.23% of their total shares to public.

Tiphone expects to raise Rp. 418.5 billion from this public offering. This will be used to pay the debt of their subsidiaries while the rest are used as working capital. In the long run, Tiphone expects Rp. 1.65 trillion market cap from this IPO.

Tiphone currently led by Mr Hengky Setiawan; Mr Ferry Setiawan as Commissioners; Mr David Tirta Wijaya, Mr Tan Meijaty Jawidjaja and Mr Lie Pin are in the board of the Director. According to company data, in June 2011 their revenue almost reaches Rp. 3 trillion with Rp. 70 billion net profit.

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