JAKARTA. PT Mitra Pack Tbk (PTMP) is aiming for fresh funds of up to IDR 96 billion through an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

The number of shares to be released by PTPM in the IPO is 800 million shares, equivalent to 25.24% of the issued and fully paid capital after the IPO. Each share has a nominal value of IDR 25 per share, and an offering price of around IDR 100 to IDR 120 per share.

Assuming an offering price of IDR 120 per share, PTMP will at least obtain fresh funds of up to IDR 96 billion.

The initial offering (book building) period for PTMP shares is scheduled for 7-9 February 2023. The public offering is expected to take place on 21-24 February 2023 and listing on the IDX on 28 February 2023.

According to the initial offering prospectus, PTMP plans to use all of the proceeds from the IPO for working capital. This includes working capital for regular stock improvement, market development, new product development, and marketing. (KR/LM)