JAKARTA - PT Palma Serasih will make a stock market debut on Indonesia Stock Exchange on November 25.
The palm oil plantation and processing company with PSGO stock code will release 2.85 billion shares to the public. The offering price for the IPO is set at Rp 105 per share.
For information, PT Jasa Utama Capital Sekuritas has been appointed as the underwriter for the IPO. The public offering period will take place on November 19 and the allotment period on November 21.
The plan, 44% of the IPO funds will be used for capital expenditure, 30% for working capital, 14% for funding palm oil mills and the remaining 12% for non-crop capex. (LM)