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Rockfields to use IPO proceeds to strengthen subsidiaries

04 September 2020 11:51

JAKARTA - PT Rockfields Properti Indonesia Tbk (ROCK) is seeking Rp 384.62 billion from its ongoing IPO to strengthen its subsidiaries. The company's shares will be publicly listed on September 10, 2020.

According to ROCK's prospectus, released on Friday (4/9), the company is offering 287,037,000 shares with an exercise price of Rp 1,340 per share. The shares represent 20% of the company's placed and paid-up capital.

74% of ROCK's IPO proceeds will be allocated towards its subsidiary PT Artha Mas Investama (AMI) to build an office building, while the remaining 26% will be used as equity capital in another subsidiary, PT GLI, which manages the Noble House building in Mega Kuningan, South Jakarta.

ROCK has Rp 155 billion in authorised capital and 3.10 billion shares. Following the IPO, its placed and paid-up capital will increase from Rp 57.40 billion to Rp 71.75 billion with its ownership structure consisting of Pu Son Kok (27%), Luciana (27%), PT Pollux Investasi International (26%), PT Rajawali Bimantara Indonesia (0.00%, Rp 100 with two shares), and public investors (20%). (LK/MS)

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