JAKARTA. PT Adhi Commuter Properti Tbk (ADCP), a property and real estate developer under PT Adhi Karya (Persero) Tbk (ADHI), has fixed the price used in its IPO, scheduled for February 16-21, 2022, to IDR 130 per share.
It is the lower limit of the price range initially stated by ADCP in its IPO prospectus back in November 2021 of IDR 130 to 200 per share. With the price being set to IDR 130 each, ADCP may potentially collect fresh funds of IDR 1.04 trillion by the end of this corporate action.
The electronic distribution of the shares or the emission date is scheduled for February 22, 2022, followed by the listing on Indonesia Stock Exchange (IDX) on February 23, 2022. For the record, the total shares issued by ADCP in the IPO will amount to 2.22 billion shares.
In the future, 26% of the IPO proceeds will be allocated to the development of an existing project in Bogor, which is the Adhi City Sentul project. Then, another 25% will be channelled to acquire or develop a new area in Bekasi, leaving 49% to pay principals of its obligations.
Currently, 99.99% of ADCP is under the control of ADHI, while the tiny remaining portion of 0.0005% belongs to Koperasi Jasa Adhi Sejahtera. After this IPO, the public might share 10% of ADCP’s shares. (KR/ZH)