JAKARTA. PT Toba Surimi Industries (CRAB), a processed seafood exporter, plans to raise fresh funds of IDR 58.5 billion through its initial public offering (IPO) in Indonesia Stock Exchange (IDX).
The number of shares involved in CRAB’s IPO will amount to 390 million units of IDR 50 each. However, the company has set the offering price to IDR 150 per share, following the upper limit price estimated in the bookbuilding phase, which ranges from IDR 100 to IDR 150 each.
In the IPO prospectus recently released, CRAB announced its plan to allocate 94.35% of the IPO proceeds to the working capital. Meanwhile, another 5.65% will be utilised as capital expenditure.
The public offering period of CRAB’s shares will last until August 8, 2022. Then, the electronic distribution will take place on August 9, 2022, prior to the stock listing on IDX on August 10, 2022.
Based on reports curated by idnfinancials.com, CRAB was established circa 1997. Its current main export markets include the United States, Europe, Japan, Hong Kong, Canada, England, and Australia. (KR/ZH)