JAKARTA. PT Wulandari Bangun Laksana Tbk (BSBK), a property and real estate developer under PAM Group, will hold its initial public offering (IPO) of 2.75 billion shares in Indonesia Stock Exchange (IDX).
The number of shares issued by BSBK is equal to 12.09% of BSBK’s issued and paid-up capital post-IPO. Each share has a value of IDR 10.
In the published prospectus, BSBK has set the offering price of IPO shares to IDR 100-120 per share. Therefore, BSBK potentially secures fresh funds of IDR 330 billion at most in this stock exchange debut.
BSBK will channel 90% of the IPO proceeds to the working capital. Meanwhile, another 10% will be used to cover operational needs of the company.
The book building phase of BSBK’s IPO is scheduled to last from October 28 to November 1, 2022, followed by the electronic distribution of shares on November 2, 2022. Lastly, the recording on Indonesia Stock Exchange will take place on November 3, 2022. (KR/ZH)