(Insider Stories) - Indonesia industrial property developer, PT Puradelta Lestari, subsidiary Sinarmas Land offer 10.85 billion shares or 20% of enlarged capital with indicative prices IDR205 to IDR225 each. It will be the largest IPO in 2013 if the companies secured the highest pricing.

The management plans to go roadshow in July 25 to August first and set the offering period August 16 to 20 and listing at Ausgust 23.

Joint lead underwriters for the IPO are PT Macquirie Capital Securities Indonesia and PT Sinarmas Sekuritas and joint bookrunners Citigroup and Nomura Securities.

Puradelta's Director Hermawan Wijaya said in 2013, Puradelta expecting the revenues will grow 20% compare to last year IDR1.35 trillion and marketing sales to reach IDR1.5 trillion from previous year IDR1.05 trillion.

He added, Puradelta plans to acquiring 200 hectares landbank in Bekasi areas this year.

Puradelta has 99.90% shares of PT Pembangunan Deltamas who operates Kota Deltamas in Cikarang, Bekasi.

Post IPO, the shareholders of Puradelta are AFP International Capital Pte Ltd 36.8%, Japan's general trading company Sojitz Corporation 20.0%, Fame Bridge Investments Ltd 20.0%,  Jermina Ltd 2.2%, PT Sumber Arusmulia 1.0% and public 20%.

Kota Deltamas has a gross land acquired 2,989 hectares with total valued IDR16.3 trillion.