JAKARTA. PT Sari Kreasi Boga Tbk (RAFI), the owner of Baba Rafi Turkish Kebab, will offer 948.09 million shares to the public in the initial public offering (IPO) in Indonesia Stock Exchange (IDX).
The publicly offered shares are approximately 30.31% of the issued and paid-up capital of the company after IPO. Each share has a face value of IDR 15 and will be put out on the market for a price ranging between IDR 120 and IDR 130 per share.
“The total stock value of this initial public offering clocks up between IDR 113.77 billion and IDR 123.25 billion,” the management of RAFI concluded in the IPO prospectus.
The bookbuilding phase is scheduled to last from July 18 to 22, 2022. Then, it will be followed by the main public offering on August 1-3, 2022, and the listing on IDX on August 5, 2022.
On top of the shares issuance, RAFI will also issue 474.05 series I warrants. These warrants will then be given as incentives for the new shareholders of the company, in which every two shares will be granted one unit of series I warrant.
Furthermore, each series I warrant may be used to acquire one share of the company with a price within a range of IDR 150-163 each. However, it may only be exercised six months after the issuance, on February 6, 2023, until another six months after. (KR/ZH)