JAKARTA. PT Aviana Sinar Abadi Tbk (IRSX), a technology company that has been operating since 2010, will issue 1 billion units of shares through the initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares offered in the IPO is equal to 20% of its issued and paid-up capital post-IPO. Each share records a face value of IDR 15, and IRSX will offer them for IDR 100-101 per share.

Assuming that IRSX will proceed with the price level of IDR 101 per share, IRSX might potentially gain fresh funds of up to IDR 101 billion.

The book building phase of IRSX’s IPO begins today (11/1) until January 17, 2023. The main public offering will then follow from January 27-31, 2023, before finally being listed on IDX on February 2, 2023.

IRSX has assigned PT Shinhan Sekuritas Indonesia to step in as the lead underwriter for its IPO and has planned to announce other underwriters shortly. (KR/ZH)