JAKARTA – PT Puri Sentul Permai Tbk (KDTN) will establish five units of Kedaton 8 Xpress Hotels in several rest areas across toll routes in Java Island. The funds for this plan will be taken out of the proceeds of the initial public offering (IPO) of 250 million shares of IDR 150 each.
In the short prospectus quoted Monday (7/11), KDTN is said to seek IDR 37.5 billion in its IPO, which takes place from November 1 to 7, 2022. Approximately 85.56% of the proceeds will be spent on building hotels, while what is left will be utilised as working capital, particularly developing a self-check-in application for these five upcoming hotels.
Five units of Kedaton 8 Xpress Hotel will be erected at rest areas, including the ones at KM 164 and KM 164 of Cipali Toll Road, at KM 439+400 of the Semarang-Solo Toll Road, and two others in type-A rest areas that are currently under negotiation.
On top of these hotels, KDTN is ready to build two suite rooms in Kedaton 8 Family Hotel, which is targeted for completion in December 2022. The company will also purchase several hotel amenities, pay marketing fees, and plan the promotion for those five new hotels. (LK/ZH)