JAKARTA. PT UBC Medical Indonesia Tbk (LABS), a medical device distributor, has named its offering price during its initial public offering (IPO) of IDR 102 per share.

Said price level is right at the middle of the price range announced by the company during the book building, from IDR 100 to IDR 103 per share. With the set offering price, LABS will still potentially gain IDR 71.4 billion of fresh funds from IPO.

For the record, the number of shares issued by LABS in its IPO is 700 million shares, equal to 17.72% of its issued and paid-up capital post-IPO.

As mentioned in IPO prospectus, the funds raised by LABS will then be used as working capital. They include funding for business expansion, operational costs, inventory purchase, and payment of working credits to suppliers.

LABS’s public offering will take place until July 8, 2024, while the electronic distribution follows on July 9, concluded with the listing on Indonesia Stock Exchange on July 10, 2024.

The lead underwriter assigned by LABS for its IPO is PT Lotus Andalan Sekuritas. (KR/ZH)