JAKARTA. PT Hassana Boga Sejahtera Tbk (NAYZ) has set an Initial Public Offering (IPO) share offering price of IDR 100 per share, right at the lower limit of the initial offering price (book building).

With this offering price, NAYZ will only receive up to IDR 51 billion of fresh funds from the IPO. Previously, the issuer, which produces food for babies, was estimated to be able to raise fresh funds of up to IDR 61.2 billion if it set an offering price at the upper limit of IDR 120 per share.

As previously reported by idnfinancials.com, NAYZ will release 510 million shares in the IPO. The number of shares offered is equivalent to 20% of the total issued and fully paid capital after the IPO.

The public offering period will last until Thursday, 2 February 2023 tomorrow. Share distribution is scheduled for February 3, 2023 and listing on the Indonesia Stock Exchange (IDX) on February 6, 2023.

In the prospectus, NAYZ plans to allocate around IDR 4.2 billion of proceeds from the IPO for capital expenditure in the form of buying land. Then around IDR 40 billion will be allocated for capital expenditure for factory construction and purchase of machines, and the rest will be for the company's working capital. (KR/LM)