JAKARTA - PT Lancartama Sejati Tbk (TAMA) obtained Rp 35 billion through its initial public offering (IPO) on 31 January-4 February 2020. In the corporate action, the company issued 200 million shares at an exercise price of Rp 175 per share.

According to the company's disclosure published on the IDX on Friday (7/2), the IDX has approved the listing of 1 billion of TAMA shares. In the corporate action, the company also listed 100 million of series I warrants on 10 February 2020.

Funds from the IPO will be used to purchase land and building assets from affiliated parties and as working capital. (LK/AR)