JAKARTA. PT Informasi Teknologi Indonesia Tbk (JATI) is gearing up towards its initial public offering (IPO) of 652.5 million units of shares.

Those shares are equal to 20% of JATI’s issued and paid-up capital post-IPO. Each share has a face value of IDR 20, and they will be offered for a price ranging between IDR 100 and IDR 120.

Assuming that the company will opt for the upper limit for the offering price of IDR 120, JATI might gain a total of IDR 78.3 billion from its IPO.

JATI’s book building is scheduled to take place from April 11 to 14, 2023. The public offering will then follow on May 2-5, 2023, before finally being listed on Indonesia Stock Exchange on May 9, 2023.

In the IPO prospectus, JATI claims to allocate approximately 27.58% of IPO proceeds to develop an Artificial Intelligence (AI) application. Then, another 27.94% of the proceeds will be utilised to develop the panel interface application module for Whatsapp Commerce marketplace. The remaining portion will then be used for the company’s working capital.

As of now, 80% of JATI’s shares are controlled by PT Jati Piranti Solusindo, leaving the remaining 20% to PT Amanah Ayah Anak. (KR/ZH)