JAKARTA. PT Haloni Jane Tbk (HALO), a manufacturer of medical and industrial-grade latex gloves, will issue 1.2 billion units of shares in its initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares issued by HALO is equal to 20.98% of the issued and paid-up capital of the company post-IPO. Each share, boasting a face value of IDR 10, will be offered for a price ranging between IDR 100 to IDR 150 per share.

Assuming that the offering price is set to IDR 150 per share, HALO possibly secures IDR 180 billion of fresh funds in its IPO.

HALO has assigned Danatama Makmur as the lead underwriter for the IPO. The book building phase is scheduled to take place from January 17 to 24, 2023, while the main public offering lasts from January 31 to February 3, 2023.

Based on the prospectus, HALO plans to allocate the entire proceeds of IPO to the working capital. It includes purchasing raw and supporting materials, as well as covering other operational costs.

As of now, 99.99% of HALO’s shares are under the control of Hansen. The remaining 0.01% of shares belongs to Imelda Lin. (KR/ZH)