JAKARTA. PT MPX Logistics International Tbk (MPXL), a transportation and logistics company, will issue 400 million shares in its initial public offering (IPO) on Indonesia Stock Exchange (IDX).

The number of shares offered by MPXL is equal to 20% of MPXL’s total issued and paid-up capital post-IPO. Each share is worth IDR 25, and will be offered for a price ranging between IDR 103 and IDR 110.

Assuming that MPXL proceeded with the highest price in the offering range, IDR 110 per share, the company may end up with IDR 44 billion of fresh funds at the end of this IPO.

The book building of MPXL is scheduled to take place from April 11 to 14, 2023, before the main public offering follows on May 3-5. The listing on IDX is set on May 9, 2023.

According to IDNFinancials data, MPXL has initiated the operation of transportation and logistics business since 2008. The services include package delivery, truck rental, tracking and monitoring of shipped goods, and insurance protection.

Until November 30, 2022, MPXL recorded total assets of IDR 60.72 billion, cash and cash equivalent of IDR 408.32 million. Meanwhile, the total equity clocked up to IDR 42.84 billion. (KR/ZH)