Jasa Marga Tbk (JSMR), a new stock price in limited public offering I with rights issue, is expected to reach IDR 3.630-5.150 per share. The new price shows discount to Theoretical ex-rights price (TERP) by 2.5%-3%.
BCA Sekuritas said if JSMR new price reaches IDR 3.630 with a total of 485.7 million shares, its TERP will reach IDR 4.535, while if its new price reaches IDR 5.150 with a total of 340 million shares, its TERP will reach IDR 4.626.
JSMR is projected to obtain IDR 1.76 trillion from this corporation. The company will use it for toll road constructions, namely Semarang-Batang, Pandaan-Malang and Jakarta-Cikampek Elevated II.
CIMB Securities recommended HOLD for JSMR with a target price of IDR 5.000. DBS Vickers also recommended HOLD for JSMR with a target price of IDR 4.900. (*)
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