JAKARTA. PT Hassana Boga Sejahtera Tbk (NAYZ), a baby food manufacturer, will issue 510 million units of its shares in the initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares issued in this corporate action is equal to 20% of NAYZ’s entire issued and paid-up capital post-IPO. Each share has a face value of IDR 10 and will be offered for IDR 100 to IDR 120.

Assuming that the company chooses to proceed with IDR 120 per share price level, NAYZ may raise IDR 61.2 billion of fresh funds in its IPO.

The book building phase of NAYZ’s shares is scheduled to take place from January 2 to 11, 2023. The main public offering will then follow on January 26-31, 2023, before being concluded through the listing on IDX on February 2, 2023.

In the published prospectus, NAYZ plans to allocate IDR 4.21 billion of IPO proceeds to pay off their land acquisition in Bogor. Then, another IDR 30 billion will be channelled as capital expenditure, leaving the rest of it as working capital.

NAYZ has assigned PT Surya Fajar Sekuritas as the lead underwriter for this IPO, while other undewriters will be announced shortly. (KR/ZH)