Congratulations on the IPO of PT Natura City Developments Tbk.
We would like to congratulate our client, PT Natura City Developments Tbk. (“NCD”), which successfully listed its 2,600,000,000 shares and 975,000,000 warrants at the Indonesia Stock Exchange (“IDX”) on 28 September 2018. Led by our Managing Partner, Pramudya A. Oktavinanda, and Senior Partner, Ahmad Zakaria, NCD’s IPO is considered as a historical moment at IDX as NCD marks the 600th company listed on IDX. NCD’s shares opened with the price of Rp204 or 70% higher from the initial price offered to the public, making NCD the top 5 gainers on such day.
NCD is a subsidiary of PT Sentul City Tbk., one of the largest Indonesian-based property development and management companies. Currently, NCD develops sustainable property within the areas of Bogor and Tangerang Selatan and is intending to expand its business throughout Indonesia. We are delighted with NCD’s achievements so far and we wish all the best for its future business activities.