JAKARTA - PT Nara Hotel Internasional plans to debut on the Indonesia Stock Exchange on February 6. Nara Hotel will release 2 billion new shares or equivalent to 20% of the total issued and fully paid-up capital after the IPO.
In addition, Nara Hotel will also issue 2.8 billion series I warrants as much as 35% of the total issued and fully paid-up shares. The bookbuilding period will take place on 8-20 January 2020 and the public offering on 28-30 January 2020.
Later, 45% of the IPO proceeds will be used to build a hotel located in Nusa Penida. Then, around 15% will be used to build a day club in Nusa Penida and around 12.5% to build a water park and 10% to build a commercial area in the same area.
Nara Hotel will also use 10% of the IPO proceeds to purchase a land in Nusa Penida and the remaining 7.5% will be used for the company's working capital. For information, Magenta Kapital Sekuritas Indonesia was appointed as IPO underwriter. (LM)