Insight

A Shaky IPO Debut for MDIY

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Algo Research Team

Company | Dec 19, 2024 | Views: 276

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Key Summary:

  • Share price opens with a volatile start
  • IPO is seen as an exit strategy by shareholders
  • Valuation is unattractively high at 42x PER

Daya Intiguna Yasa (MDIY), the Indonesian subsidiary of Malaysian-based MR.D.I.Y, is officially listed in the Indonesian stock exchange today with the IPO share price set at IDR 1,650/share.


Context: At the open, share price dropped to max limit of IDR1,240 (-24.8%) but gradually gained a foothold and went as high as IDR1,900 (+15%). It closed the first trading session at IDR1,790 (+8.5%).

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