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Pood Advista sets IPO price between Rp 125 and Rp 150 per share

24 October 2018 03:48 PM  Company: []
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JAKARTA - Prospective issuer of PT Pool Advista Finance sets the initial public offering (IPO) price between Rp 125 to Rp 150 per share. According to the plan, the company will release 800 million new shares with a nominal value of Rp 100. This amount is equivalent to 23.92% of the total issued and fully paid-up capital.

PT Artha Sekuritas Indonesia, the underwriter for the IPO said that Pool Advista's share price for IPO ranged between Rp 125 - Rp 150 per share. Thus, the funds that will be obtained from this IPO can reach up to Rp 120 billion.

Around 50% of the IPO funds will be used for investment in the development of the company's infrastructure and the remaining for the company's working capital. The public offering period is on 7-9 November and listing on the IDX on 14 November.

Listed on the IDX is one of the company's strategies in increasing asset and profit growth by utilizing funding sources from the capital market. Until July 2018, total financing reached Rp 258.35 billion, consisting of investment financing of Rp 90.08 billion, working capital financing of Rp 85.14 billion, multipurpose financing of Rp 82.91 billion, and Islamic financing of Rp 220 million. (LM)