JAKARTA. PT Era Digital Media Tbk (AWAN), a mobile content service provider for telecommunications companies, will carry out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

The number of shares offered by AWAN in the corporate action is 750 million shares. Each share has a nominal value of IDR 10 per share, and will be offered at a price range of IDR 100 to IDR 110 per share.

Assuming the share offering price is at the upper limit of IDR 110 per share, AWAN has the potential to reap fresh funds of up to IDR 82.5 billion from this corporate action.

According to an official statement received by idnfinancials.com, AWAN will allocate 80% of the proceeds from the IPO for capital injection to one of its subsidiaries, namely PT Era Awan Digital (EAD). The remainder will be allocated for working capital, including payment of employee salaries, office rent, and the company's operational needs.

In this IPO, AWAN appointed PT Samuel Sekuritas Indonesia and PT Sucor Sekuritas as underwriters for the issuance of securities. The public offering period for AWAN shares will be held on 11-13 April 2023. The distribution of shares will be carried out on 14 April 2023 and the listing of shares on the IDX on 17 April 2023. (KR/LM)