JAKARTA. PT VKTR Teknologi Mobilitas Tbk (VKTR), an electric vehicle (EV) company under Bakrie Group, will issue 8.75 billion new shares in the Initial Public Offering (IPO).

In the recently published prospectus, the total shares offered by VKTR is equal to 20% of its issued and paid-up capital post-IPO. Each share records a face value of IDR 10, and they will be offered for a price ranging between IDR 100 and IDR 130 each.

Assuming that the offering price will be set to the upper range of IDR 130 each, VKTR will potentially gain fresh funds of up to IDR 1.13 trillion in this corporate action.

The public offering period is scheduled to last from June 12 to 14, 2023. The electronic distribution of the shares will take place on June 15, before being officially listed on Indonesia Stock Exchange (IDX) on June 16, 2023.

As of now, approximately 56.94% of VKTR’s shares is under the control of PT Bakrie & Brothers Tbk (BNBR). Then, another 27.56% belongs to PT Bakrie Metal Industries, leaving the remaining 15.50% to PT Kuantum Akselerasi Indonesia. (KR/ZH)