JAKARTA - Pekanbaru based company, PT Bima Sakti Pertiwi has set the price for the initial public offering (IPO) in the range of Rp 100 - Rp 200 per share.
VP Investment Bank Danatama Makmur Sekuritas Jonni Effendy said that with the stock price, the valuation of the Bima Sakti Pertiwi is around 27 -50 times.
"The price is around Rp100-Rp200 per share, with PE of 27 times - 50 times," Jonni said as quoted from Bisnis.com.
Bima Sakti Pertiwi plans to release 625 million shares or the equivalent of 20% of the issued and fully paid capital. The company targets funds from this IPO of Rp 63 billion.
Most of the IPO funds will be used for capital expenditure, namely for the addition and improvement of building facilities. While the rest will be used to buy a land located behind the Pekanbaru mall area. (LM)