JAKARTA - PT Grand House Mulia Tbk (HOMI), the developer of Parkville Serpong, plans to spend 95% of its IPO proceeds as working capital. For information, the company managed to raise Rp 59.85 billion in its IPO.

Meanwhile, the remaining 5% of the IPO proceeds will be used for debt repayments and payment of profit sharing ratio to PT Bank Tabungan Negara (Persero) Tbk (BBTN), the company's creditor. 

In its IPO, HOMI issued 157.50 million shares at a price of Rp 380 per share. HOMI shares are scheduled to be listed in the first trading session on the Indonesia Stock Exchange (IDX) today (10/9).

HOMI's authorized capital was recorded at Rp 250 billion. (LK/AR)