JAKARTA. PT Lini Imaji Kreasi Ekosistem Tbk (FUTR) will hold an initial public offering (IPO) to raise IDR 153.36 billion of fresh funds.

According to its initial prospectus, FUTR plans to issu 1,278 billion units of shares in its debut, which are equal to 20% of its total issued and paid-up capital post-IPO. Each share has a face value of IDR 10, which will then be offered for IDR 100 to 120 per share.

Assuming that the offering price is set to the highest range, IDR 120 per share, FUTR will potentially collect IDR 153.36 billion at the end of this corporate action.

In the future, approximately 7% of the IPO proceeds gained by FUTR will be allocated to purchase technological equipment to support Gudang Kreativ ecosystem. Most of the proceeds, however, or 93% of them, will be allocated to enhance the company’s working capital.

FUTR has appointed PT Indo Capital Sekuritas as the lead underwriter. The book building phase will take place until February 7, 2023, followed by the main public offering event on February 20-22, 2023, and the listing on February 24, 2023. (KR/ZH)