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Pura Trans seeks Rp 189 billion via IPO

07 January 2020 14:40

JAKARTA - PT Putra Rajawali Kencana (Pura Trans) seeks to raise Rp 189 billion through an initial public offering (IPO). In this corporate action, Pura Trans will release 1.8 billion shares or equivalent to 33.95% of total issued and fully paid-up capital.

As reported by Kontan, the company set an IPO price of Rp 105 per share. Thus, the company has the potential to reap fresh funds up to Rp 189 billion.

Bookbuilding period will take place on January 2-9, 2020, public offering will be held on January 22-23, 2020 and share listing is scheduled on January 30. UOB Kay Hian Sekuritas was also appointed as IPO underwriter.

Later, 38% of the IPO funds will be used to purchase 67 units of used Hino trucks and 39 new Hino trucks. Then, 46% fund will be used to purchase 99 units of trailers. The company will also use 10.5% of the IPO funds to buy a body of 20FT trailers for 30 units and 45 units of flatbed. The remaining 4.5% will be used to buy tires and accessories. (LM)

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