JAKARTA. PT Techno9 Indonesia Tbk (NINE) has set the price that will be exercised in the initial public offering (IPO) to the lowest in the estimation range, which is IDR 75 per share.
Prior to this, during the book building phase, NINE projects the offering price for the shares in the IPO to arrive between IDR 75 and IDR 90 each. Then, by setting the price to the lower range, the corporation will only secure fresh funds of IDR 32.4 billion at the end of this debut.
Approximately 52.66% of the proceeds of NINE’s IPO will be channelled to its working capital. Then, another 32.09% will be spent on opening 19 service points in Java and Kalimantan. Meanwhile, the remaining 15.25% will be allocated for purchasing a storage warehouse.
The primary public offering of NINE is scheduled to commence on November 25, 2022, entailed by the electronic distribution of shares on December 2, 2022, and the public listing on Indonesia Stock Exchange (IDX) on December 5, 2022.
NINE has assigned two security companies as the lead underwriters, namely PT Victoria Sekuritas Indonesia and PT Elit Sukses Sekuritas. (KR/ZH)