PT NFC Indonesia makes its listing debut on Indonesia stock exchange

Information technology company PT NFC Indonesia, a subsidiary of listed digital kiosk company M Cash Integrasi, made its listing debut on the Indonesia stock exchange raising a total of 308 billion Indonesian rupiah ($21 million) in an oversubscribed round for its IPO. 

The company opened at 2,770 Indonesian rupiah ($0.19), a 49.73 percent (920 points) increase of the previous price of 1,850 Indonesian rupiah ($0.12). 

The company said that the IPO is part of the company’s strategy to accelerate its business pace to be the biggest digital exchange hub in Indonesia, aiming to play a central role in the daily lives of a tech-savvy Indonesian society. 

M Cash listed on the internet data exchange in October last year, raising $22 million.