09/05/2013 (Jakarta Globe) - Shares in Indonesian plantation firm Austindo Nusantara Jaya rose as much as 6.7 percent after its trading debut on Wednesday.

The crude palm oil producer issued 940 million new shares for its initial public offering priced at 1,200 rupiah per share. It raised Rp 1.1 trillion, lower than the expected Rp 1.7 trillion ($175.03 million).

Austindo is the eighth company to list on the Indonesian stock exchange this year, amidst weakening commodity prices that have pressured Indonesian crude palm oil producers’ earnings in the latest quarter.

The stock was trading at 1,210 rupiah with a volume of 15.2 million shares. The Jakarta Composite Index was up 0.62 percent.