JAKARTA - PT Royalindo Investa Wijaya Tbk (INDO) obtained Rp 94 billion during its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). In the corporate action, INDO released 861,820,000 shares at a price of Rp 110 per share.
According to the press release, the proceeds from the IPO will be used to develop boarding facilities on land managed by its subsidiary. At present, INDO operates two boarding facilities, PJ Mansion and Puri Cempaka 04.
In addition to releasing new shares, this company also issues Series I Warrants, and every share offered in an IPO is attached to 1 (one) Series I Warrants, which can be converted into new shares at an exercise price of Rp 110. INDO appointed PT BCA Sekuritas as the guarantor in the IPO.
INDO is the 4th company that listed its initial shares on the Indonesia Stock Exchange in 2020. And in accordance with a decree from the Board of Commissioners of the Financial Services Authority, INDO's shares are also designated as sharia securities. (LK/AR)