JAKARTA. PT Capri Nusa Satu Properti is optimistic it can launch an IPO in the first quarter of 2019, targeting proceeds in the range of Rp 100 billion to 150 billion.
The company plans to use the proceeds to finance its resort and spa project in Nusa Penida, Bali and office and convention hall project ini East Jakarta. 50% of the IPO proceeds will be used on the resort project, 40% on the office project, and 10% as working capital.
"The stock exchange is a good place to provide financing for developers with prospective projects," said Capri Nusa CEO Jansen Subakti in a press release, Sunday (3/3).
Currently Capri Nusa has three assets: a four-story office building in East Jakarta, an office and convention building that will operate in the first semester of 2019, and a resort and spa project targeted to operate in September 2019.
In the initial stage, Capri Nusa is planning to woork on its resort and spa project on a 2.5-hectare land from a total of 50 ha. The initial development will encompass 30 villas with investment funds amounting to Rp 150 billion. (AM/MS)