JAKARTA. PT Superior Prima Sukses Tbk (BLES), a hebel and mortar manufacturer under Hermanto Tanoko’s control, has set the initial public offering (IPO) price to IDR 183 per share.

Previously, BLES has set the IPO price range from IDR 175 to IDR 185 per share. With the price fixed at IDR 183, the company will potentially gain fresh funds of IDR 264.47 billion in IPO.

For the record, total shares issued by BLES in its IPO is 1.31 billion shares, each of which has a face value of IDR 50. The number of shares offered to the public is equal to 15% of its issued and paid-up capital post-IPO.

BLES’s public offering is taking place from July 1 until July 4, 2024, while the distribution will take place on July 5, 2024, before finally being listed on Indonesia Stock Exchange (IDX) on July 8, 2024.

In the issued prospectus, BLES plans to allocate approximately IDR 100 billion of IPO proceeds to capital expenditure (capex), leaving the remaining to be used as working capital of the company. (KR/ZH)