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Nankai to debut, offering 410 million shares in IPO

25 July 2022 08:57

JAKARTA. PT Rohartindo Nusantara Luas Tbk (TOOL), a trading company under the brand Nankai, will offer 410 million shares through the initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares issued in the IPO is 20% of the entire issued and paid-up capital of TOOL after IPO. Each share has a par value of IDR 50, and will be put out on the market for IDR 122-135 per share.

In the prospectus, TOOL is said to plan to utilise 52.18% of the IPO proceeds as the working capital and allocate another 47.82% to acquire three units of shop-houses to promote its business expansion plan.

In addition to the shares, TOOL will also issue 205 million units of series I warrants. These warrants will be given as incentives for new shareholders whose names are recorded by the allotment date. For every two new shares, the shareholder will be granted one unit of series I warrant, which can be exercised to acquire one extra new share of the company.

TOOL has appointed PT Mirae Asset Sekuritas Indonesia as the executive underwriter. The bookbuilding phase is ongoing from July 19 to 26, 2022, which precedes the main public offering period on August 2-5, 2022. Meanwhile, the stock listing on Indonesia Stock Exchange (IDX) will tie up the event chain, taking place on August 9, 2022. (KR/ZH)

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