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Aiming for IDR 338.3 billion, VTNY to set IPO price to IDR 360

09 December 2022 08:53

JAKARTA. PT Venteny Fortuna International Tbk (VTNY) has set the price of the shares in its initial public offering (IPO) to IDR 360 each, right in the middle of the price range initially announced in the prospectus.

With this price level, VTNY will potentially secure IDR 338.3 billion of fresh funds from its IPO at max.

As mentioned in IDNFinancials before, the number of shares issued in this corporate action reaches 939.78 million units, which are equal to 15% of the enlarged issued and paid-up capital post IPO.

Approximately 42% of IPO proceeds will be advanced by VTNY to its subsidiary as working capital credit. Then, another 30% will be allocated for business expansion, leaving the remaining portion to develop its organisation and brand.

The allotment of VTNY’s shares is scheduled to take place on December 13, 2022, followed by the electronic distribution of shares on December 14, 2022. Lastly, the public listing on Indonesia Stock Exchange (IDX) will conclude the process on December 15, 2022.

The lead underwriters assigned by VTNY in its IPO include PT BRI Danareksa Sekuritas, PT Surya Fajar Sekuritas, and PT Mirae Asset Sekuritas Indonesia. Meanwhile, PT Mega Capital Sekuritas will become the underwriter. (KR/ZH)

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