JAKARTA. PT Multi Medika Internasional Tbk (MMIX) has set the price for its shares in the initial public offering (IPO) to IDR 190 each, which lies in the lower range of the initial offering price that is capped at IDR 210 per share.
By setting the price to said level, MMIX will be able to collect fresh funds of IDR 114 billion from its IPO. The company was initially estimated to raise IDR 126 billion in this corporate action.
As mentioned in idnfinancials.com before, the number of shares issued by MMIX in this IPO reaches 600 million shares. They are equal to 25% of its enlarged issued and paid-up capital post IPO.
Approximately 65% of the IPO proceeds will then be utilised as MMIX’s working capital, leaving the remaining 35% to be used to extend the distribution centre and logistic infrastructure of the company.
In this IPO, MMIX has assigned PT Mirae Asset Sekuritas Indonesia as the underwriter. The public offering will commence on November 30, 2022, and end on December 2, 2022. Then, the electronic distribution of the shares will take place on December 5, 2022, followed by the public listing on Indonesia Stock Exchange (IDX) on the next day, December 6, 2022. (KR/ZH)