JAKARTA: Property developer PT metropolitan Land Tbk held its initial public offering, starting today, until June 15.We release 1.89 billion shares or 25% from our total paid-in capital at IDR240 per share, said President Director Nanda Widya.The company obtained Bapepam-Lk approval on June 9 and will begin to effectively registered on June 20.The proceeds will be used to develop new projects such as mall, apartment, strata title, hotel improvement, acquiring subsidiarys share and for working capital.PT Danareksa Sekuritas and PT Nikko Securities Indonesia are appointed as the underwriters. (t05/msw)

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