JAKARTA. PT Gunanusa Eramandiri Tbk (GUNA), a producer of packaged peanuts, will offer 500 million shares in an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI).

The number of shares offered is equivalent to 20% of GUNA's issued and fully paid capital after the IPO. Each share has a nominal value of IDR 100 per share, and will be offered at a price range of IDR 100 to IDR 150 per share.

Assuming the offering price is at the upper limit, GUNA has the potential to raise fresh funds of up to IDR 75 billion.

In the prospectus submitted, GUNA will use all proceeds from the IPO to purchase raw materials for almonds and peanuts. This plan is the company's strategy to obtain raw materials at low prices, considering the peanut and almond harvest cycle which is expected to last from August to October this year.

GUNA has appointed PT Panin Sekuritas Tbk (PANS) as the underwriter for the securities issuance. Meanwhile, the underwriter has not yet been determined.

The initial share offering period will take place on 20-26 June 2024. The public offering will be held on 2-4 July 2024 and listing on the Indonesia Stock Exchange (BEI) on 8 July 2024. (KR/LM)