JAKARTA. PT Teknologi Karya Digital Nusa Tbk (TRON), a telematics and Internet of Things (IoT)-based information system solutions company, will release 750 million shares through an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

The number of shares offered by TRON in the IPO is equivalent to 25.42% of the issued and fully paid capital after the IPO. Each share has a nominal value of IDR 20, and will be offered at a price of IDR 140 to IDR 220 per share.

Assuming an offering price of IDR 220 per share, TRON has the potential to reap fresh funds of up to IDR 165 billion from the IPO.

According to an official statement obtained by idnfinancials.com, TRON will allocate around 30% of the IPO proceeds for capital expenditure in the form of expanding its operational area in West Java. The rest will be used for working capital, which includes project operational costs, up to the purchase of product raw materials.

TRON has appointed PT Surya Fajar Sekuritas as the underwriter for the issuance. The initial stock offering period (book building) is scheduled for 10-20 February 2023. The public offering will be held from 28 February to 3 March 2023 and listed on the Indonesia Stock Exchange (IDX) on 7 March 2023. (KR/LM)