JAKARTA. PT Pelita Teknologi Global Tbk (CHIP), a manufacturer of smart cards for cellular data providers, arranges its initial public offering (IPO) to raise fresh funds of IDR 36 billion.

CHIP will offer 200 million units of its shares in this IPO, which are equal to 24.81% of its entire issued and paid-up capital post-IPO. Each share has a value of IDR 10, but will be offered for a price within the range of IDR 140-180 per share.

CHIP has assigned PT Lotus Andalan Sekuritas as its underwriter for the IPO. It has also scheduled the book building phase to take place from January 17-24, 2023, while the main public offering will follow on February 2-6, 2023.

Based on the issued prospectus, CHIP plans to allocate the entire proceeds of the IPO to its working capital. It includes covering for operational costs, selling expenses, rents, and debt payment to suppliers.

As of now, approximately 79.29% of CHIP's shares are under the control of PT Karya Permata Berkat Jaya. PT Suryamas Lama then claims another 5%, followed by PT Surya Pelangi Cahaya, PT Aneka Taruna Selaras, and PT Wilmar Sejahtera Asia of 5% each. Lastly, Mulyo Suseno owns 0.36% of the shares, as does Ardarini. (KR/ZH)