JAKARTA. PT Berkah Beton Sadaya Tbk (BBS) will collect fresh funds of up to IDR 200 billion from an initial public offering or IPO, which will be used for business expansion and capital expenditures.
In an official letter signed by the Director of the Indonesian Central Securities Depository (KSEI) Syafruddin today, BBS has registered as many as 2 billion units of shares in collective custody at KSEI. Each share unit that will be offered to the public has a nominal value of IDR 50 per unit and an offering price of IDR 100 per unit.
The public offering period runs from March 1-4, 2021. Electronic share distribution will be carried out on March 9, 2021 and listed on the Indonesia Stock Exchange on March 10, 2021.
BBS appointed PT Mirae Asset Sekuritas Indonesia as the underwriter in the IPO prospectus received by idnfinancials.com, BBS stated that 53.67% of the proceeds from IPO will be used to purchase a plot of land belonging to PT Subang Terus Membangung. Meanwhile, the remaining 46.33% will be channeled as the company's capital expenditure.
According to idnfinancials.com data, BBS is a company that has been operating since 2019 in Subang, West Java. The company with total assets of IDR 408.33 billion runs construction, large-scale trading and excavation businesses. One of the company's superior products is readymix and precast concrete. (KR/LM)