HomeNewsVideos

Making its IDX debut, Aman Agrindo seeks IDR 64.22 billion

27 June 2022 10:14

JAKARTA. PT Aman Agrindo Tbk (GULA), a sugar factory under PT Aman Resources Indonesia, arranges its initial public offering (IPO) of 214.07 million shares.

The number of shares issued in this corporate action will be equal to 20% of GULA’s entire issued and paid-up capital. Each share has a face value of IDR 100 each, which will be offered for the varied price range, starting from IDR 250 to 300 per share.

The bookbuilding phase of GULA’s IPO is scheduled to last from June 23 to 29, 2022. The public offering will be carried out next on July 12-18, 2022, followed by the listing on Indonesia Stock Exchange (IDX) on July 20, 2022.

GULA will allocate approximately 23% of the IPO proceeds to the working capital, including funding the palm sugar refinery plant construction. Then, another 57% will be channelled to the capital expenditure budget, purchasing and installing palm sugar production machine. “Then, the remaining portion will be used to enhance the working capital,” the management further added in the IPO prospectus.

Currently, 70.8% of GULA’s shares is controlled by PT Aman Resources Indonesia. Then, another 28.9% belongs to Andreas Utomo, leaving another 0.29% to Matthew Utomo.

PT UOB Kay Hian has been appointed as the lead underwriter in this corporate action. In the near future, the name of other underwriters will also be announced. (KR/ZH)

© 2024 - IDN Financials - All Rights Reserved.