JAKARTA -- Shares in the Indonesian arm of Malaysia-based home improvement retailer Mr.DIY Group fell in their local stock market debut on Thursday as declining purchasing power sapped investor demand for the consumer-reliant stock.
Shares of Daya Intiguna Yasa, Mr.DIY's Indonesian unit, hit 1,240 rupiah in the opening minutes of trade on the Indonesia Stock Exchange, down 25% from its initial public offering price. It later rebounded to 1,665 rupiah, 0.9% above the IPO price.
