JAKARTA. PT Panca Mitra Multiperdana will continue its plan to offer its initial shares (IPO) on the Indonesia Stock Exchange (IDX) in mid-December.
According to information obtained by Idnfinancials.com, Panca Mitra Multiperdana has obtained “PMMP” code for its shares. On Monday (23/11) afternoon, the company will hold a due diligence meeting and public expose to explain its IPO plan in more detail.
In its official announcement regarding the agenda, the company's management admitted that they have appointed PT Sinarmas Sekuritas and PT Mirae Asset Sekuritas as underwriters.
The initial offering will be held on 23-27 November 2020. The company estimates that the effective date of the public offering will be obtained on 4 December 2020. Meanwhile, the public offering is expected to take place on 8-9 December 2020. The shares will be listed on the IDX on 15 December 2020.
In its IPO prospectus, Panca Mitra Multiperdana will offer as many as 667.5 million new shares. This is equivalent to 25.02% of the company's total paid-up capital after the IPO.
The proceeds from the IPO will be used by Panca Mitra Multiperdana to support its business expansion plans and as working capital. (KR/AR)