JAKARTA. PT Verona Indah Pictures Tbk (VERN) plans an initial public offering (IPO) by issuing 1.12 billion shares, equal to 23.54% of its issued and paid-up capital.

Each share offered by VERN in its IPO has a par value of IDR 80, and will be offered for a price ranging from IDR 190 to IDR 195. Assuming that the price is set to the upper limit of IDR 195 per share, the company might potentially raise fresh funds of up to IDR 218.72 billion from this IPO.

In the issued prospectus, VERN plans to utilise approximately 7.33% of IPO proceeds to acquire land and building in Kebon Jeruk, West Jakarta. The remaining portion will then be allocated to its working capital.

Book building of VERN’s shares is set to September 18-25, 2024, with public offering follows on October 2-4, 2024. Lastly, the listing of the stock is scheduled to take place on October 8,2024.

The lead underwriter assigned by VERN for this upcoming corporate action is PT UOB Kay Hian Sekuritas. (KR/ZH)