A company engaged in the wholesale trading of household appliances and equipment, PT Panca Anugrah Wisesa Tbk (MGLV), is officially listed on the Indonesia Stock Exchange (IDX).

At the opening of the first day of trading, the company's share price with issuer code MGLV rose 9.63% to a level of Rp148 from the offering price of Rp135 per share.

Through the IPO, the company, better known as the Magran Living brand, released 400 million shares or the equivalent of 21.05% of the issued and paid-up capital after the IPO. That way, Magran Living pocketed fresh funds of Rp54 billion.

Along with the issuance of new shares, the company also offers series I warrants of 400 million, equivalent to 26.67% of the total issued and fully paid shares, when it submitted the registration statement to the OJK.

Each holder of one new share of MGLV is entitled to one warrant, where each warrant entitles the holder to purchase one new share of the company issued