JAKARTA. PT Anugerah Spareparts Sejahtera Tbk (AEGS), an automotive filter manufacturer, has set the offering price in its initial public offering (IPO) to IDR 100 per share.

The price is set to the highest of the price range announced in the book building phase, which goes from IDR 90 to IDR 100 per share. With this price on hand, AEGS will potentially collect IDR 40 billion from its IPO.

For the record, the number of shares offered by AEGS in this IPO is 400 million shares, which are equal to 39.76% of its issued and paid-up capital post-IPO.

The public offering of AEGS’s shares will take place from September 4 to 7, 2023, followed by the distribution of shares on September 8, 2023, before the listing on Indonesia Stock Exchange (IDX) on September 11, 2023.

In general, AEGS will allocate IPO proceeds for warehouse expansion and capital expenditure. In addition, the company will also allocate a portion of IPO proceeds for working capital. (KR/ZH)