JAKARTA - PT Multisarana Intan Eduka Tbk (MSIE) aims to acquire more land assets in Central Java and Bali, which will be leased to third parties.

Based on the short prospectus quoted Tuesday (29/8), the land acquisition will be conducted through different means, including acquiring assets and its owners and long-term cooperation. The required funds clock up to IDR 25.20 billion.

The money will be taken out of the proceeds of its initial public offering (IPO) of 360 million shares, which took place in early August 2023. At that time, the company sets the IPO target to IDR 36 billion by offering the shares for IDR 100 each.

The company partners up with PT Adicipta Cahaya Gemilang (ACG) to seek four potential pieces of land with area ranging from 2,000 to 3,000 m2 in Tawamangu, Central Java, and Ubud, Bali. The agreement between MSIE and ACG was signed on April 17, 2023. (LK/ZH)