JAKARTA. PT Cashlez Worldwide Indonesia, a digital payment fintech, plans to conduct its initial public offering (IPO) at a price of Rp 298 to Rp 358 per share with a target of obtaining Rp 100 billion in funds.
Tee Teddy Setiawan, President Director of Cashlez, said that his party had obtained permission from Bank Indonesia (BI) to obtain additional capital through an IPO. The total number of shares that will be offered in the IPO is 300 million shares, equivalent to 20.29% of the company's issued and fully paid capital.
Furthermore, Cashlez will use the IPO funds to acquire the shares of PT Softorb Technology Indonesia (STI) and as its working capital.
"Cashlez is focused on the back end, in the back. We need a front-end that can feed us transactions, just like what is provided by STI, to provide the front end they have, "Setiawan explained as reported by Kontan on Monday (16/3) yesterday. (KR/AR)