JAKARTA - PT Teknologi Karya Digital Nusantara Tbk (TRON) is eyeing IDR 135 billion from the initial public offering (IPO) which took place from yesterday (2/3) to (6/3).

From the prospectus quoted on Friday (3/3), TRON is offering 750 million shares or 25.4% of the company's issued and paid-up capital after the IPO. The exercise price in this corporate action is set at IDR 180 per share.

30% of the IPO proceeds will be used for capital expenditure (capex) for additional operational areas in West Java and the remaining 60% for operational costs for smart city development work and business solution providers in the transportation aspect in various cities.

The addition of operational areas will begin gradually in the second quarter of 2023 and will be carried out with third parties. Meanwhile, the development of product and service sales distribution segments via business to business (B2B) and business to consumer (B2C). This service is for the development of business process outsourcing (BPO) business lines for transportation operators. (LK/LM)