JAKARTA - PT Perintis Triniti Properti will release 1.09 billion shares in an initial public offering (IPO). The amount is equivalent to 25% of the total issued and paid-up capital after the IPO.
In addition, Perintis Triniti Properti also issued new shares for the mandatory convertible bond (MCB) amounting to Rp 88.9 billion. The amount of MCB conversion shares will be adjusted to the conversion implementation price range of around Rp 150 - Rp 400 per share.
As reported by Bisnis, the proceeds from the IPO will be used to provide loans to subsidiaries, business development and working capital. For information, 35% of the IPO funds will be given to PT Triniti Menara Serpong to build Collins Boulevard. Around 35% will also be given to PT Puri Triniti Batam to work on Marc’s Boulevard project in Batam.
The appointed underwriters for the IPO are PT Royal Investium Sekuritas and PT Mirae Asset Sekuritas Indonesia. The bookbuilding period will take place from December 12-18, 2019 and listing on the IDX will be on January 20, 2020. (LM)