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Bliss Properti pockets 255 billion from stock market debut

13 May 2019 11:14

JAKARTA - PT Bliss Properti Indonesia Tbk (POSA) managed to reap fresh funds of Rp 255 billion through an initial public offering (IPO) held on Friday (10/5). The 11th listed company on the IDX this year set an IPO price of Rp 150 per share.

For information, Bliss Properti offers 1.7 billion shares, which is equivalent to 20.26% of the total issued and fully paid capital. NH Korindo Sekuritas Indonesia was appointed as the underwriter for the IPO.

In addition to offering shares, POSA also offers 2,295 million of series I warrants that is attached to the company's new shares. The calculation of the comparison is that every 100 new shares will receive 135 series I warrants.

The plan, Bliss Properti will use 79% of IPO funds for working capital and subsidiaries to finance the operations of shopping centers, maintenance of buildings and equipment, and pay obligations such as suppliers and vendors.

While the remaining 21% of the IPO funds will be used as capital expenditure for the completion of Jambi City Center and the renovation of the Lombok City Center. The details are 18% for the renovation of Lombok City Center and 82% for the completion of Jambi City Center. (LM)

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