JAKARTA. PT Era Media Sejahtera Tbk (DOOH), an advertising and agency company, will hold an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) by releasing 1.54 billion shares.

The number of shares offered is equivalent to 20% of DOOH's issued and paid-up capital after the IPO. Each share will be priced at an offering price of IDR 100-120. Assuming an offering price of IDR 120 per share, the company has the potential to reap fresh funds of up to IDR 185.7 billion from the IPO.

DOOH has appointed PT Indo Capital Sekuritas as underwriter for the issuance of securities. The initial offering period will take place on 10-14 April 2023. The public offering is expected to take place on 28 April - 3 May 2023, as well as share listing on 5 May 2023.

In the prospectus that has been published, DOOH plans to use 7.07% of the proceeds from the IPO for capital expenditure, in the form of procurement of advertising media assets. Then the remaining 92.93% will be allocated for the company's working capital.

In this IPO, DOOH also issued 1.23 billion Series I Warrants. All of these warrants will be distributed free of charge as an incentive for the company's shareholders. Every 5 IPO shareholders are entitled to 4 Series I Warrants. Later, every 1 Series I Warrant will give the holder the right to buy 1 share of the company at an exercise price of IDR 135. (KR/LM)