JAKARTA - PT Bank Amar Tbk is planning to issue as many as 1,206,068,500 shares or 15.01% of its placed and paid-up capital with a nominal value of Rp 100 per share in its upcoming initial public offering (IPO). The company’s shares are scheduled to be officially listed on the Indonesia Stock Exchange (IDX) on January 9, 2020.
“The bookbuilding period is from December 16 to 20 with an estimated effective date from the Financial Services Authority (OJK) on December 30, 2019, while the estimated public offering period is from January 3 to 6, 2020,” the company wrote in a prospectus issued on Monday (16/12).
In the corporate action, Bank Amar has appointed PT UOB Kay Hian Sekuritas as the lead underwriter with the other underwriters to be determined later.
Currently Tolaram Group is Bank Amar’s majority shareholder with a 98.63% stake, while the other shareholders are Ghansham Jivatram (0,622%), Khrisan Umar Agrawal (0,375%), and Henry Mixon (0,311). Following the IPO, Toleram’s ownership will be diluted to 83.68%. (MS)