JAKARTA – PT Wijaya Karya Bangunan Gedung Tbk plans to release 4.46 million of shares or equals to 40% of the total paid up capital after the Initial Public Offering. Wika Gedung set its offering price between Rp 290 per share to Rp 456 per share. Based on the information from IDX, Wika Gedung will hold a ticker code of WEGE.
“Wika Gedung IPO to accelerate the business, whether it is for high rise building development or planned development investment that could give more benefit to the stakeholders,” said President Director of Wika Gedung Nariman Prasetyo.
The company has appointed four underwriters namely Mandiri Sekuritas, Bahana Sekuritas, CIMB Sekuritas Indonesia and Buana Capital Sekuritas. WIKA Gedung is expected to be listed on the IDX on November 30, 2017.
Around 70% of the proceeds from the IPO will be used by Wika Gedung for investment and concession, while the rest 30% will be used for working capital. (LM)