JAKARTA - PT Cisadane Sawit Raya set the offering price for initial public offering (IPO) of Rp 125 per share. The company plans to release 410 million new shares, equivalent to 20% of the total issued and fully paid-up capital.
With this IPO price, Cisadane Sawit Raya has the potential to reap fresh funds up to Rp 51.25 billion. The plan, the company will use the IPO proceeds for working capital such as purchasing fertilizer, purchasing of fresh fruit bunches to the heavy equipment rental.
As reported by Kontan, PT UOB Kay Hian was appointed as IPO underwriter. Cisadane Sawit Raya is scheduled to make its debut on Indonesia Stock Exchange on January 9, 2020. (LM)