JAKARTA. PT Terang Dunia Internusa Tbk (UNTD), the United Bike manufacturer, will hold its initial public offering (IPO) by issuing 1.66 billion shares.

The number of shares issued by UNTD in Indonesia Stock Exchange is equal to 25% of its total issued and paid-up capital post-IPO. Each share has a face value of IDR 25 per share, and will be offered for a price ranging from IDR 170 to IDR 240 per share.

Assuming that the offering price is set to the highest of IDR 240, UNTD will potentially rake in fresh funds of IDR 400 billion at the end of the IPO.

UNTD assigns PT Mirae Asset Sekuritas Indonesia and PT BRI Danareksa Sekuritas as joint lead underwriters. The bookbuilding is set to January 11-22, 2024, followed by the public offering from February 1 to 5, 2024.

In the prospectus, UNTD is meant to allocate all proceeds of IPO to working capital, including the main material of electric motorcycle manufactured by the company. (KR/ZH)