JAKARTA. PT Grahaprima Suksesmandiri Tbk (GTRA), a motorized transportation company for general goods, will carry out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

The number of shares offered by GTRA in the IPO was 378.87 million shares, or around 20% of the company's issued and fully paid capital after the IPO. Each share has a nominal value of IDR 100, and will be released at a price range of IDR 100 to IDR 150 per share.

Assuming an offering price of IDR 150 per share, GTRA has the potential to reap fresh funds of IDR 56.83 billion from this corporate action.

According to the official statement received by idnfinancials.com, GTRA plans to use around 64.8% of the proceeds from the IPO for capital expenditure. Then the remaining 35.20% will be used for the company's working capital.

GTRA has appointed PT UOB Kay Hian Sekuritas as underwriter. The initial offering period (book building) of the company's shares will last until March 6, 2023. The next public offering is scheduled for March 20-28, 2023 and the share listing on the stock exchange on March 30 2023.

Currently, 54.68% of GTRA shares are owned by PT Adika Eka Putra. Then, PT Trimulti Adinata Perkasa owns 43.68% of the shares, Ardi Supriyadi 6.32%, and Ronny Senjaya 6.32%. (KR/LM)