Andalan Sakti obtained Rp 34.65 billion from its IPO
JAKARTA - PT Andalan Sakti Primaindo Tbk (ASPI) raised Rp 34.65 billion during its initial public offering (IPO) which took place on 10-11 February 2020. In the corporate action, the company released 330 million shares at an offering price of Rp 105 per share.
Suwandi Notopradono, President Director of PT Andalan Sakti Primaindo Tbk, said that the number of shares offered in the IPO is equal to around 48% of the company's issued and paid-up capital.
"The listing is the realization of the management's commitment to go public through the mechanism on the IDX. From now on, PT Andalan Sakti Primaindo Tbk has officially become a public company and is the 14th issuer to register its shares on the IDX in 2020," he said on Monday (17/2).
According to him, the proceeds from the IPO will be used to provide loans for the company's subsidiaries (85%) and the remaining 15% will be used by the company to repay its debts to the company's shareholders.
In the IPO, the company also issued 110 million series I warrants at a price of Rp 130 per warrant. Each holder of 3 (three) new shares would obtain 1 (one) series I warrant. (LK/AR)