JAKARTA. PT Rohartindo Nusantara Luas Tbk (TOOL), a tool products distributor, seeks fresh funds of IDR 52.07 billion in its initial public offering (IPO).
TOOL has set the offering price for its IPO to IDR 127 per share. Previously, in the bookbuilding phase, the company estimated the offering price to arrive within the range of IDR 122 and IDR 135 per share.
The public offering period of TOOL’s shares begins today (2/8) and will last until August 5, 2022. The electronic distribution of the shares will then take place on August 8, 2022, followed by the listing on Indonesia Stock Exchange on August 9, 2022.
As stated in its IPO prospectus, the number of shares offered in this corporate action reaches 410 million units. It is equivalent to 20% of the issued and paid-up capital of TOOL after IPO.
Next, TOOL plans to allocate 54.08% of the proceeds gained during its debut to acquire assets in the form of three units of shop-houses. Then, another 45.92% will be stored as working capital, which will be used in expanding its business.
Until March 31, 2022, TOOL’s total assets reportedly clocked up to IDR 134.79 billion. Meanwhile, its total equity reached IDR 102.2 billion. (KR/ZH)