JAKARTA. PT Bank Net Indonesia Syariah Tbk plans to raise IDR 515 billion in fresh funds through an initial public offering of 5 billion shares (IPO) on the Indonesia Stock Exchange (IDX).
Bank Net management has conducted collective custody at the Indonesian Central Securities Depository (KSEI) on Monday (25/1). In an official letter signed by the Director of KSEI Syafruddin, the nominal value of shares to be offered by Bank Net is IDR 100. Meanwhile, the share offering price was set at IDR 103.
According to data compiled by idnfinancials.com, all shares to be offered by Bank Net in the IPO are equivalent to 37.9% of the company's total paid-up capital. All of these shares will be issued from the company's portfolio.
Later, as much as 60% of the net proceeds from the IPO will be used by Net Bank to finance the maintenance of IT infrastructure and its supports. Then the remaining 40% will be used to support the company's working capital.
Bank Net will start conducting a public offering on January 25-27, 2021. Meanwhile, the share listing on IDX will be carried out on January 29, 2021. To support the implementation of the IPO, the company has appointed PT NH Korindo Sekuritas Indonesia as the underwriter. (KR/LM)