JAKARTA. PT Royaltama Mulia Kontraktorindo Tbk (RMKO), a mining support and heavy equipment rental service provider, will issue 250 million shares in the initial public offering (IPO) on Indonesia Stock Exchange (IDX).

The number of shares issued by RMKO is equal to 20% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 100, and will be offered for a range between IDR 350 and IDR 450 per share.

Assuming that the offering price is set to IDR 450 per share, RMKO will potentially raise fresh funds of up to IDR 112.5 billion.

RMKO has named PT Victoria Sekuritas Indonesia as the executive underwriter. The book building will last from July 10 to 13, 2023, followed by the public offering on July 24-28, 2023, before finally being listed on IDX on August 1, 2023.

For the record, RMKO is an affiliate of PT RMK Energy Tbk (RMKE). As of now, 99.99% of RMKO’s shares are under the control of PT RMK Investama, leaving the remainder to Vincent Saputra. (KR/ZH)