JAKARTA – PT Solusi Kemasan Digital Tbk (PACK), a flexible packaging manufacturer, has allocated IDR 10.47 billion to its capital expenditure (capex) budget for this year. The money will be sourced out from the proceeds of its initial public offering (IPO) that is currently underway, from February 2 to 6, 2023.

Quoting its short prospectus today (3/2), said capex will be used to upgrade its information and technology (IT) system, FlexyPack System 2.0, for the next four months.

The upgrades include the optimisation of user interface and user experience (UI/UX) to facilitate online shopping through website, the tracking system to help the customers and the internal team tracking down orders in real-time and automatically, as well as the data analytic development.

PACK is known to have targeted IDR 49.86 billion of fresh funds in this IPO of 308 million units of shares worth IDR 10 each. The offering price was set to IDR 162 per share.

The remainder of the IPO proceeds, equal to 79% of them, will be used to enhance its working capital, including improve offline and digital marketing. (LK/ZH)