VTNY - PT. Venteny Fortuna International Tbk

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+125 (+20,33%)

JAKARTA. PT Venteny Fortuna International Tbk (VTNY) will hold its initial public offering (IPO) of 939.78 million units of shares in Indonesia Stock Exchange (IDX).

The number of shares offered by VTNY is equal to 15% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 5, and they will be offered for a price that ranges between IDR 350 to IDR 450 per share.

“The collective value of this IPO is IDR 422.9 billion at most,” the management of VTNY confirmed in the recently published prospectus.

Based on idnfinancials.com data, VTNY will allocate approximately 42% of the IPO proceeds as a loan facility for its subsidiary. Then, another 30% will be used to expand its business, leaving the remaining to be utilised as its working capital.

The book building phase of VTNY’s IPO is scheduled on November 21-29, 2022, followed by the main public offering on December 6-12, 2022. Then, the listing will take place on December 14, 2022.

VTNY has assigned three underwriters in its IPO. They are PT BRI Danareksa Sekuritas, PT Surya Fajar Sekuritas, and PT Mirae Asset Sekuritas. (KR/ZH)