A 10,000% Jump Makes Indonesia Data Firm World’s Top Gaining IPO

JAKARTA (BLOOMBERG) - A cloud data service provider partly owned by an Indonesian tycoon has delivered the world's best-performing initial public offering (IPO) this year, jumping more than 100fold since its share float in January.

DCI Indonesia has soared 10,852 per cent since its 150 billion rupiah (S$14.4 million) listing on Jan 6. That makes the firm the top gainer in Indonesia's stock market and the second-biggest contributor to the Jakarta Composite Index's 12 per cent gain this year.

DCI's stellar performance is another example of the frenzied trading in Indonesian technology stocks this year, with a key gauge of the sector having surged nearly fourfold since its launch in late January. However, there's caution about how much investors should read into it given the stock's scant trading and lack of research coverage by brokerages.

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A 10,000% Jump Makes Indonesia Data Firm Worlds Top-Gaining IPO

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