JAKARTA. PT Ecocare Indo Pasifik Tbk (HYGN), a cleaning tool rental and management service provider, will hold its initial public offering (IPO) through the issuance of 525 million shares.

The number of shares issued by HYGN is equal to 20.79% of its total issued and paid-up capital post-IPO. Each share has a face value of IDR 20, and will be offered for a price ranging from IDR 135 to IDR 145 per share

Assuming that HYGN is setting the offering price to the highest price level of IDR 145 per share, HYGN potentially rakes in fresh funds of IDR 76.12 billion from its IPO.

The book building of HYGN’s shares will last until February 24, 2024. The public offering will take place from February 1 to 5, 2024, followed by the stock listing on Indonesia Stock Exchange (IDX) on February 7, 2024.

According to IDNFinancials data, HYGN’s current core business activity is involving wholesale of household tool and equipment, other household products, and activities of a holding company. In addition, the company also owns a supporting business line in the general hygiene of buildings. (KR/ZH)