JAKARTA. PT Indo Pureco Pratama Tbk (IPPE) is in the middle of its initial public offering (IPO) of 1 billion shares to raise fresh funds of IDR 100 billion.
Based on an official statement received by idnfinancials.com, the number of issued shares is equivalent to 21.74% of IPPE’s issued and paid-up capital. Each share has a face value of IDR 50 and is offered for IDR 100 per share.
The management of IPPE claimed that 60.89% of the IPO proceeds would be allocated to the capital expenditure. The rest of it, 39.11%, would be utilised as the company’s working capital.
The public offering period of IPPE’s shares took place from December 2 to 7, 2021. The electronic distribution is scheduled for December 8, 2021, while the recording will follow on December 9, 2021.
As of November 15, 2021, 45% of IPPE’s shares are under the control of PT Lembur Sadaya Investama. Then, PT Sapihanean Pangan Lestari claims another 40.47% of the shares, followed by PT Sumber Sentosa Adikarya 7,78% and PT Cipta Ihya Nusantara 3,08%. The small remaining portion is shared among the directors and commissioners of the company. (KR/ZH)