JAKARTA (TheInsiderStories) – Three companies – PT Artajasa Pembayaran Elektronis Tbk, PT Gihon Telekomunikasi Tbk and PT Jaya Trishindo Tbk – are seeking to raise up to Rp836.25 billion from the initial public offering (IPO) this month. The three companies have unveiled their plan to potential investors early this week.
Electronic payment provider Artajasa plans to issue 437.5 million units of shares or 20 per cent of the company’s enlarged capital. The company has set the IPO price of Rp80-Rp1,250 per share, with a fundraising target of Rp371.45-Rp746.25 billion.
The company plans to use 60 per cent of the IPO proceeds to buy new equipment and 40 per cent to strengthen its working capital. The company has set offering date on Mar. 23-26, followed by listing on the Indonesian Stock Exchange on Mar. 26, 2018.
Telecom tower developer PT Gihon Telekomunikasi Indonesia Tbk has unveiled its plan to offer 200 million units of shares or 33.49 per cent of the company’s enlarged capital.
The company has set IPO price of between Rp1,100 to Rp1,300 per share, with potential funds to be raised of up to Rp260 billion.
The company has set offering date on Feb. 28 until March 12, 2018, and followed by listing on the Indonesian Stock Exchange on Mar. 26.
Meanwhile, helicopter operator PT Jaya Trishindo Tbk plans to offer 250 million units of shares or 30.53 per cent of the company’s enlarged capital, with IPO price of Rp110-Rp125 per share. The company expects to raise funds of up to Rp30 billion through the IPO.
Trishindo shares are currently 70 per cent owned by PT Startel Communication and PT Komala Tri Varia 30 per cent. The company sets the offering date on Mar. 19-20, 2018 and listing on Mar. 27.
The three companies are among firms that are listing their shares on the Indonesian Stock Exchange in the first quarter. The others are PT Borneo Olah Sarana Tbk, PT BTPN Syariah, PT Sky Energy Indonesia and PT LCK Global.
In 2017, 37 companies listed shares on the bourse. The exchange board expects at least 35 companies to go public this year, some of which will be subsidiaries of state-owned companies.