JAKARTA. PT Isra Presisi Indonesia Tbk (ISAP) eyes fresh funds of up to IDR 150 billion through its initial public offering (IPO) of 1.5 billion shares in Indonesia Stock Exchange (IDX).
Based on the issued IPO prospectus, the number of shares that will be offered by ISAP to the public is equal to 37.31% of its enlarged issued and paid-up capital post-IPO. Each share has a face value of IDR 10 and will be offered for a price ranging between IDR 95 and IDR 100.
ISAP will then utilise 25% of the proceeds of the IPO to enhance the working capital of its subsidiary, PT Cakrawala Maju Sejahtera. Similarly, ISAP will channel another 24.6% to PT Milenium Multiguna Mandiri, 24.9% to PT Aristo Satria Mandiri. and 25.4% to PT Techno Shouko Indonesia. Then, the remainder will be used to boost its own operational expenditure budget.
The book building of ISAP’s shares will take place from November 7-14, 2022, followed by the public offering on November 25-29, 2022, and the initial listing on IDX on December 1, 2022.
ISAP has assigned PT UOB Kay Hian Sekuritas as the lead underwriter in its IPO. (KR/ZH)