JAKARTA. PT Berkah Mulia Mandiri Tbk (BITU), a bitumen trader and terminal managing company, will debut in Indonesia Stock Exchange (IDX) through an initial public offering by issuing 550 million shares.

The number of shares issued by BITU is equal to 31.3% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 50, and will be offered for a price ranging between IDR 131 and IDR 140 per share.

Assuming that the offering price is set to the upper limit, IDR 140 per share, BITU might raise fresh funds of up to IDR 77 billion in this IPO.

BITU has assigned PT NH Korindo Sekuritas Indonesia as the lead underwriter. The public offering is scheduled to last from August 2 to 4, 2023, followed by the listing on IDX on August 8, 2023.

As of now, approximately 89.39% of BITU’s shares is under the control of PT Mega Rahardja Investama. Megawatie Cahyani owns another 9.69%, followed by Lasomo Imam Rahardjo of 0.91%, and Dave Natakusuma. (KR/ZH)