JAKARTA. PT Intra Golflink Resorts Tbk (GOLF), management consultancy and golf course management owned by Hutomo Mandala Putra or Tommy Soeharto, will issue 3.1 billion shares in Indonesia Stock Exchange (IDX) through initial public offering (IPO).

The number of offered shares is equal to 15.02% of total issued and paid-up capital of GOLF post-IPO. Each share has a value of IDR 25, and will be offered for a price ranging from IDR 200 to IDR 230 per share.

Assuming that the offering price is set to the upper range, GOLF will potentially rake in IDR 713 billion from its IPO.

GOLF’s book building will take place from June 20 to 25, 2024. Public offering then follows on July 2-4, 2024, before beng concluded through the listing on IDX on July 8, 2024.

Several lead underwriters assigned for GOLF’s IPO are PT KB Valbury Sekuritas, PT Samuel Sekuritas Indonesia, PT Semesta Indovest Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM).

As of December 31, 2023, 98.06% of GOLF are still under the control of PT Bali Pecatu Graha, while the remaining 1.94% belong to PT Mandalapratama Permai. For the record, Tommy Soeharto is listed as the beneficial owner of GOLF’s controlling shareholder. (KR/ZH)